Iceland Seafood International hf.: Market making agreement with Kvika banki hf
Following the expiry of previous market making contract with Kvika banki hf, the company is happy to announce it has agreed on a renewed contract with the bank.
According to the new contract Kvika is committed to make daily bid and ask offers for a minimum of ISK 5.000.000 at market value at a price decided by Kvika at any given time. The maximum spread between bid and ask is 1.5%, if the intraday price change is more than 10%, Kvika is allowed to increase the maximum spread to 3.0%. The maximum amount Kvika is obliged to trade within any day amounts to 60.000.000 kr of market value.
The company also has a market making contract in place with Arion banki, with similar setup as the contract with Kvika.