OMX and Eignarhaldsfélagid Verdbréfaþing hf., owner of the Iceland Stock Exchange (ICEX), have signed a letter of intent for OMX’s acquisition of ICEX. The acquisition is a step in a move to integrate the Nordic and Baltic securities markets and to establish the OMX Nordic Exchange as a leader in the European marketplace, according to a press release. This is reported by Morgunbladid online.
The intention is for Icelandic companies to become part of the Nordic list at the beginning of next year, thereby gaining increased visibility. At the same time, Icelandic market information will be distributed along with other information from OMX, and Icelandic securities will become part of the OMX-wide indices. The increased liquidity of Icelandic equity markets is also expected, not only due to added visibility but also due to one common broker network with a single point of access and higher number of remote members. There will also be a coordination of rules and listing regulations as the cooperation progresses.