Iceland Stock Exchange
|This article is outdated. (March 2011)|
|NASDAQ OMX Iceland|
|Key people||Páll Harðarson (President)|
|No. of listings||8|
OMX Iceland All-Share
NASDAQ OMX Iceland (Icelandic: Kauphöll Íslands) or ICEX was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central bank. Trading began in 1986 in Icelandic government bonds, and trading in equities began in 1990. Equities trading increased rapidly thereafter. A wide variety of firms are currently listed on the exchange, including firms in retail, fishing, transportation, banks, insurance and numerous other areas. Because of the small size of the Icelandic economy and the low cost of public listing, many of the companies traded on the ICEX are relatively small and are relatively illiquid.
All domestic trading of Icelandic bonds, equities and mutual funds takes place on the ICEX. Bonds and equities are regularly traded, though the liquidity is small in comparison with other exchanges. No mutual funds are currently listed on the market. Since its founding, the ICEX has used various electronic systems. Since 2000, it has used the SAXESS system of the NOREX alliance, which allows for the cross-listing of stocks on Nordic stock exchanges. No foreign company lists directly on the ICEX, as the small size and illiquidity of the market makes such a move redundant. Conversely, few Icelandic firms have listed abroad, including DeCODE. Faroese bonds were listed on behalf of Virðisbrævamarknaður Føroya in November 2003, and since December 2007 four Faroese equities have been listed on the OMX Nordic Exchange in Iceland.
Since 1 January 1999, the ICEX has operated as a private company, owned by the listed companies (29%), member firms (29%), the Central Bank of Iceland (16%), pension funds (13%) and the Association of Small Investors (13%).
On 6 October 2008, the Financial Supervisory Authority decided to temporarily suspend trading on regulated market financial instruments issued by Glitnir, Kaupthing Bank, Landsbanki, Straumur Investment Bank, Spron and Exista. When the exchange reopened on 14 October, the stock index fell by 76%.
List of companies on the ICEX
The following is a complete list of companies which are listed on the Iceland Stock Exchange (as of July 18th, 2013), and currency in which they trade.
- Atlantic Airways, DKK
- Atlantic Petroleum, DKK
- Bank Nordik, DKK
- Century Aluminum Company, ISK
- Eimskip, ISK
- Fjarskipti, ISK
- Hagar, ISK
- Hampiðjan, ISK
- HB Grandi, ISK
- Icelandair Group, ISK
- Marel, ISK
- Nýherji, ISK
- Össur, ISK
- Reginn, ISK
- Sláturfélag Suðurlands, ISK
- Tryggingamiðstöðin, ISK
- Vátryggingafélag Íslands, ISK
- Nasdaq Omx
- The Financial Supervisory Authority - Iceland, News: Temporary suspension from trading (06.10.2008) (English)
- The Guardian, Iceland stock index plunges 76 pct as trade resumes (14.10.2008) (English)
-  Landsbankinn, Stock listings Retrieved 18.7.2013