Nasdaq Iceland

From Wikipedia, the free encyclopedia
  (Redirected from Iceland Stock Exchange)
Jump to navigation Jump to search
Nasdaq Iceland
Kauphöll Íslands
TypeStock exchange
LocationReykjavík, Iceland
Founded1985
OwnerNasdaq Nordic
Key peoplePáll Harðarson (President)
CurrencyISK
No. of listings18 (2018)
IndicesOMXI10
OMX Iceland All-Share
Websitenasdaqomxnordic.com

The Nasdaq Iceland, formerly known as the Iceland Stock Exchange (XICE) (Icelandic: Kauphöll Íslands), is a stock exchange located in Iceland. It was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central bank.[1][2] Trading began in 1986 in Icelandic government bonds, and trading in equities began in 1991.[2] 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 XICE are relatively small and are relatively illiquid.

All domestic trading of Icelandic bonds, equities and mutual funds takes place on the XICE. 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 XICE 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 XICE, 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 XICE 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%).

Páll Harðarson is the current president of the stock exchange. XICE agreed to be taken over by larger rival OMX Nordic Exchange on 19 September 2006.[3]

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.[4] When the exchange reopened on 14 October, the stock index fell by 76%.[5]

After having reached its peak of 3495.28 on the 20th of July 2007, the OMX Iceland All-Shares Index collapsed to its bottom at 167.77 on April 8, 2009, a fall of 95.2% from top to bottom. Nine years later, the index was yet to reach 670.[6]

List of companies on the XICE[edit]

The following is a complete list of companies which are listed on the Iceland Stock Exchange (as of November 13, 2018), and currency in which they trade.[7]

History[edit]

The following timeline outlines the consolidation through mergers and acquisitions among bourses in the European Union, which has taken place since the 1990s in response to financial harmonisation and liberalisation. Current, independent (parent) exchange companies are shown in colour.

    United States Intercontinental Exchange, Inc.
  United States New York Stock Exchange, Inc. United States European Union NYSE Euronext, Inc.
    United Kingdom London Traded Options Market United Kingdom London International Financial Futures and Options Exchange European Union Euronext N.V.
      United Kingdom London International Financial Futures Exchange
    United Kingdom London Commercial Sale Rooms United Kingdom London Commodity Exchange  
Netherlands Amsterdam Exchanges N.V. (Amsterdam Stock Exchange)     European Union Euronext N.V.
    Belgium Bourse de Valeurs Mobilières de Bruxelles S.A. (Brussels Stock Exchange)
  France Société des Bourses Françaises S.A. (Paris Stock Exchange)
    Portugal Bolsa de Valores de Lisboa e Porto (Lisbon Stock Exchange)
          Republic of Ireland Irish Stock Exchange  
                Norway Oslo Stock Exchange Norway Oslo Børs Holding ASA Norway Oslo Børs VPS Holding ASA  
                                      Norway Verdipapirsentralen Norway Verdipapirsentralen ASA  
                                    Denmark VP Securities A/S  
                  Italy Borsa Italiana S.p.A. (Italian Bourse) United Kingdom London Stock Exchange Group plc  
    United Kingdom London Stock Exchange plc  
                                              Norway Statnett Marked AS   European Union Nord Pool Spot AS European Union Nord Pool AS  
                                              European Union Nord Pool ASA  
                                  United States Nasdaq, Inc.
                      Sweden Stockholm Stock Exchange Sweden OM AB European Union OM HEX AB European Union OMX AB
                          Finland Helsinki Stock Exchange Finland Helsinki Exchanges Group Plc
                                                Estonia Tallinn Stock Exchange  
                                              Latvia Riga Stock Exchange  
                                              Lithuania Vilnius Stock Exchange
  Denmark Copenhagen Stock Exchange  
                                          Iceland Iceland Stock Exchange  
                                                          Armenia Armenian Stock Exchange  
                                                Switzerland SIX Swiss Exchange AG
                      Spain Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. (Spanish Bourses)  
                          Hungary Budapest Stock Exchange     Hungary Budapest Stock Exchange
          Austria Wiener Börse AG (Vienna Stock Exchange) European Union Central and Eastern Europe Stock Exchange Group AG Austria Vienna Stock Exchange
                                                Czech Republic Burza cenných papírů Praha, a.s. (Prague Stock Exchange)  
                                            Slovenia Ljubljana Stock Exchange      
                                              Croatia Zagreb Stock Exchange
Germany Frankfurter Wertpapierbörse AG (Frankfurt Stock Exchange)   Germany Deutsche Börse AG (German Bourse)
                                  Luxembourg Centrale de Livraison de Valeurs Mobilières Luxembourg Cedel International  
                                                              Germany European Energy Exchange  
                                                        Germany Switzerland Eurex Exchange  
                                                        Germany Switzerland STOXX
1585
1602
1625
1698
1724
1769
1771
1792
1799
1801
1808
1818
1831
1863
1864
1912
1954
1970
1971
1978
1979
1980
1985
1989
1991
1993
1995
1996
1998
2000
2001
2002
2003
2004
2005
2006
2007
2008
2010
2011
2012
2013
2014
2015
2016
2018
2019
2020
2021

See also[edit]

External links[edit]

References[edit]

  1. ^ Bakie, John (30 October 2014). "Nasdaq drops OMX name from branding". The Trade. London. Archived from the original on 20 September 2016. Retrieved 12 June 2015.
  2. ^ a b "Nordic Large Cap". Nasdaq. Retrieved 11 August 2016.
  3. ^ Nasdaq Omx
  4. ^ The Financial Supervisory Authority - Iceland, News: Temporary suspension from trading (06.10.2008) Archived 2008-12-11 at the Wayback Machine (in English)
  5. ^ The Guardian, Iceland stock index plunges 76 pct as trade resumes (14.10.2008) (in English)
  6. ^ Fundamental Finance Playbook, The Icelandic Stock Exchange
  7. ^ [1] Retrieved 13.11.2018