New equity rights market opens in Iceland

The Nordic Exchange Iceland opened a new specialty submarket for equity rights earlier this month, reports

The OMX ICE Equity Rights submarket will allow transactions to be made in different areas related to equity issues, such as subscription rights. It forms part of the OMX ICE Equities and Related market with NOREX Member Rules applying to all transactions.

The new market will be set up in a fashion similar to the equity market, and all members of the Icelandic equity market will be automatically granted access.

President of OMX Nordic Exchange Iceland, Thordur Fridjonsson, said: “We are very glad to offer exchange trading in equity rights on the Icelandic market. This innovation will significantly enhance the trading environment for such rights in Iceland. Trading in equity rights on the Icelandic market will now be available under OMX ICE rules and liquidity will improve dramatically for the benefit of issuers and shareholders alike.”