Release details

2017-07-18 16:51 CEST
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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.

HUG#2121176