Market infrastructure – Iceland
Institutions and organisation
Stock Exchange – Nasdaq Iceland hf. (www.nasdaqomxnordic.com)
Nasdaq provides trading and exchange technology services for the Icelandic market, as well as for many other markets amongst which Estonia, Latvia and Lithuania.
All traded securities are dematerialised, and trades are automatically transferred to the Central Securities Depository (CSD), Nasdaq CSD, as matched trades.
Central Securities Depository – Nasdaq CSD SE (www.nasdaqcsd.com)
In 2020, Nasdaq CSD Iceland, formerly known as Nasdaq CSD Iceland, Nasdaq verðbréfamiðstöð hf. or VS or ISD (Icelandic Securities Depository), has merged with Nasdaq CSD.
Nasdaq CSD is a central securities depository, with presence in Estonia, Iceland, Latvia and Lithuania, using the Nasdaq CSD securities settlement platform for the four markets.
Central Bank – Seðlabanki Íslands (www.cb.is)
The Central Bank, among other responsibilities, coordinates the payment systems and the financial markets. It is also in charge of supervising the day-to-day monetary and foreign exchange operations.
In the beginning of 2020, the Financial Supervisory Authority and the Central Bank of Iceland have merged.
Regulatory structure
Financial Supervisory Authority (www.fme.is)
Nasdaq CSD operations are subject to the supervision of the Icelandic Financial Supervisory Authority, whose role is to ensure that activities of supervised entities comply with the laws, regulations, rules or company statutes that govern their activities.