Nasdaq Central Securities Depository in Iceland Merges with Nasdaq CSD

Nasdaq central securities depository in Iceland has merged with Nasdaq CSD, which will now operate in Iceland, Lithuania, Latvia, and Estonia, RÚV reports. An announcement about the merger states that in its wake, Icelandic operations will be able to make full use of the opportunities and connections that Nasdaq CSD’s securities depository system has to offer, thus creating new opportunities for both domestic and foreign customers.

“This is both the biggest infrastructure change as well as technological advancement that has taken place in the Icelandic securities market for 20 years and will allow us to participate in innovation and development in this branch that will deliver to our clients,” stated Magnús Kristinn Ásgeirsson, CEO of Nasdaq CSD in Iceland. It is expected that the technical part of the merger – the introduction of a new central securities depository system – will be completed on 15 June.

In 2017, Nasdaq CSD became the first European securities depository to obtain operating licenses under the new European Central Securities Depository Regulation (CSDR), and was recently granted a licence to operate in Iceland according to that regulation. Nasdaq CSD has integrated the operations of Nasdaq Securities Centre in Iceland with Nasdaq CSD in accordance with CSDR’s requirements for governance and operations, with a view to ensuring more secure and efficient settlement services in the Icelandic securities market in accordance with international standards.

Reykjavík Pride and NASDAQ Address “Gay Glass Ceiling” in Iceland

Gunnlaugur Bragi Björnsson, the President of Reykjavík Pride, rang the Icelandic Stock Exchange bell at 9.00am on Thursday morning to celebrate a new collaboration between the two organisations, Vísir reports. The aim of the partnership is to get a conversation going around the status of LGBTQIA people in the business world, as recent studies published in the US have shown, for instance, that gay men are less likely than straight men to become senior executives.

“The goal is to start a conversation, to start an informed conversation that will then lead to increased awareness about the status and rights of LGBTQIA people, [as well as] ways to improve the circumstances of LGBTQIA people and in so doing, improve the business world overall,” remarked Páll Harðarson, president of NASDAQ Iceland.

Although the issue has not really been taken up in Iceland thus far, but the so-called “gay glass ceiling” has already become a topic of discussion in places like the US and UK. “…[T]he situation is not what it should be,” said Páll.

“Studies in the US show that gay men are more likely to become middle managers than straight men, but they are, on the other hand, much less likely to become high-level executives,” said Gunnlaugur Bragi.