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The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) today announced that NASDAQ OMX Iceland has listed a new exchange traded fund (ETF) issued by the Icelandic fund management company Landsbref. The new ETF, “LEQ” (Landsbref Equity), is based on the OMX Iceland 6 Cap index which consists of the six most traded companies on the Icelandic equity market.
LEQ is the first exchange traded fund to be listed on the Icelandic equity market since 2004, and now the only fund traded on exchange on the Icelandic market. Landsbref aims at issuing a set of new bond ETFs in the coming months.
“The new LEQ exchange traded fund from Landsbréf is a welcoming addition to our product offering on the Icelandic market,” Magnus Hardarson, Vice-President NASDAQ OMX Iceland commented. “In our rebuilding of the Icelandic market we have experienced a great increase in equity trading, and this new issuance of an ETF will certainly support the growth potential of the equity market.”
“We are delighted to lead the come back of exchange traded funds on the Icelandic market with the new LEQ fund,” Sigthor Jonsson, CEO of Landsbréf commented. “The new LEQ ETF is a suitable trading product for investors who want to have an easy access to the most traded companies on the Icelandic market at low cost. It is our hope that the fund will be welcomed by investors in Iceland as well as abroad.”
Landsbankinn will act as a market maker to provide liquidity.
