ICEX Launches A New Market.

Iceland Stock Exchange launches on 15 May a new regulated market, ICEX Alternative Market (ICEX AM). In light of recent developments on the “grey market” and the unregulated OTC market formerly run by ICEX member firms, ICEX feels there is a strong need for a regulated market which does not offer an official listing according to EU Directives but one that meets standards set by Icelandic law. ICEX wants to expand its services to both companies and investors by offering an alternative market.

ICEX Alternative Market is a good venue for companies that are growing fast, for new or smaller companies, or for companies that simply feel that an official listing on a stock exchange is not timely. Institutional as well as private investors can invest in ICEX AM listed companies. Listing requirements are more relaxed than those that apply to the ICEX Main and Growth Lists. The disclosure requirements are more or less the same except that companies listed on ICEX AM need to publish semi-annual rather than quarterly reports. Trading on ICEX AM will be through the SAXESS trading system as other equity trading on the Exchange and the investors and traders will enjoy the same kind of transparency as trading in other listed ICEX securities.