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Nasdaq (NASDAQ: NDAQ) today announced the expansion of Nasdaq Iceland’s leading index, OMX Iceland 8 (OMXI8), from eight companies to ten. The update will become effective at the market open on 1 July 2019 as part of the semi-annual review of the index. At the same time, the name and symbol of the index will be updated to reflect the increased number of constituents. The new name of the index will be OMX Iceland 10 (OMXI10).
“The expanded OMX Iceland 10 index reflects the progress made on the market in recent years, where the market has both grown in size and become more liquid,” said Magnus Hardarson, Head of Exchange Sales and Services at Nasdaq Iceland. “The expanded index is a better representation of Iceland’s most liquid companies and allows for greater diversification for the benefit of investors and funds tracking the index”.
The OMX Iceland 10 index is Nasdaq Iceland’s leading index and consists of the ten most liquid shares on the Exchange. The weight of the shares is based on the free float adjusted market value, which means that only the part of the share capital that is considered available for trading is included in the index. Please find information on the index methodology at https://indexes.nasdaqomx.com/docs/OMXI10%20Methodology.pdf
