Iceland Stock Exchange – ICEX

AAA

DEFINITION of 'Iceland Stock Exchange – ICEX'

A stock exchange located in Reykjavik, Iceland. The Iceland Stock Exchange was established in 1985, as a joint venture between some of Iceland's brokerage firms and banks, initiated by Iceland's Central Bank.


In 1986, trading began in Icelandic T-bonds; in 1990, housing bonds, mortgage-backed securities with a State guaranty, were added. Also in 1990, the exchange's first equities were listed and by 1992, the exchange started gathering momentum, with an average of six new listing per year.

INVESTOPEDIA EXPLAINS 'Iceland Stock Exchange – ICEX'

Its official name is Nasdaq OMX Iceland. In 1998, a new law required the Iceland Stock Exchange to alter its legal status from a self-owned institution, to a limited company with shareholders.


In 2002, a new holding company, Eignarhaldsfelagið Verðbrefaþing hf., was established to operate both the ICEX and the Icelandic Securities Depository (ISD). This holding company is owned by financial institutions, listed companies, pension funds, the Central Bank, the Investor Association and the Treasury.


The Iceland Stock Exchange joined the NOREX Alliance in June, 2000. The NOREX Alliance was established in 1998, to create a cooperative Nordic securities market using a joint trading system and common trading rules.

RELATED TERMS
  1. Nordic Tiger

    A colloquial term for the Scandinavian nation of Iceland. Prior ...
  2. Oslo Stock Exchange (OSL) .OL

    The major securities trading market in Norway, the Oslo Stock ...
  3. Stockholm Stock Exchange (STO) ...

    The main securities market in Sweden, the Stockholm Stock Exchange ...
  4. Exchange

    A marketplace in which securities, commodities, derivatives and ...
  5. ISK

    The currency abbreviation or the currency symbol for the Iceland ...
  6. Copenhagen Stock Exchange - CSE

    The Copenhagen Stock Exchange serves as Denmark's official market ...
Related Articles
  1. The Birth Of Stock Exchanges
    Personal Finance

    The Birth Of Stock Exchanges

  2. Getting To Know The Stock Exchanges
    Options & Futures

    Getting To Know The Stock Exchanges

  3. Iceland's Near Collapse: What Can We ...
    Options & Futures

    Iceland's Near Collapse: What Can We ...

  4. The Global Electronic Stock Market
    Trading Systems & Software

    The Global Electronic Stock Market

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center