Nasdaq (Nasdaq:NDAQ) announces that the global index provider FTSE Russell has decided to upgrade Iceland to Secondary Emerging Market status, effective from market open on Monday September 19, 2022. Fifteen Icelandic securities are expected to be eligible for the FTSE Global All Cap Index from start.
“The Icelandic equity market has been growing steadily by the year,” says Bjørn Sibbern, President of European Markets at Nasdaq. “The transition to FTSE’s Secondary Emerging Market status is a testimony of confidence for continued growth and could further elevate interest in the Icelandic economy and equity market, creating new opportunities for both companies and investors. I congratulate Nasdaq Iceland and our clients on this important milestone.”
Nasdaq Iceland has worked diligently along with Nasdaq CSD, clients, the Central Bank, the Government, and other stakeholders to improve the Icelandic financial markets, resulting in the regulatory and settlement environment becoming better aligned with international standards. The upgrade to the Secondary Emerging Market status will help facilitate substantial new inflow into the Icelandic economy and support capital raising opportunities for listed companies.
“This is a major milestone for the Icelandic equity market and great news for the wider Icelandic economy,” says Magnus Hardarson, President of Nasdaq Iceland. “FTSE’s decision recognizes the tremendous work and effort that has been put in by all market participants to strengthen the Icelandic market within the international investment universe. Important IPOs, greater liquidity and various market improvements have made this possible and steadily built interest from domestic and international investors alike.”
For additional information, please also see FTSE’s announcement on the reclassification and FAQ for Icelandic securities included in the Secondary Emerging Market Index.
FTSE Russell’s Secondary Emerging Market status for Iceland will be effective from market open Monday, September 19, 2022.
