Reykjavik, Iceland - Nasdaq (Nasdaq:NDAQ) announces that the global index
provider FTSE Russell has decided to upgrade Iceland to Secondary Emerging
Market status, effective from market open on Monday September 19, 2022. Fifteen
Icelandic securities are expected to be eligible for the FTSE Global All Cap
Index from start.
"The Icelandic equity market has been growing steadily by the year," says Bjørn
Sibbern, President of European Markets at Nasdaq. "The transition to FTSE's
Secondary Emerging Market status is a testimony of confidence for continued
growth and could further elevate interest in the Icelandic economy and equity
market, creating new opportunities for both companies and investors. I
congratulate Nasdaq Iceland and our clients on this important milestone."
Nasdaq Iceland has worked diligently along with Nasdaq CSD, clients, the
Central Bank, the Government, and other stakeholders to improve the Icelandic
financial markets, resulting in the regulatory and settlement environment
becoming better aligned with international standards. The upgrade to the
Secondary Emerging Market status will help facilitate substantial new inflow
into the Icelandic economy and support capital raising opportunities for listed
companies.
"This is a major milestone for the Icelandic equity market and great news for
the wider Icelandic economy," says Magnus Hardarson, President of Nasdaq
Iceland. "FTSE's decision recognizes the tremendous work and effort that has
been put in by all market participants to strengthen the Icelandic market
within the international investment universe. Important IPOs, greater liquidity
and various market improvements have made this possible and steadily built
interest from domestic and international investors alike."
For additional information, please also see FTSE's announcement on the
reclassification and FAQ for Icelandic securities included in the Secondary
Emerging Market Index.
FTSE Russell's Secondary Emerging Market status for Iceland will be effective
from market open Monday, September 19, 2022.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital
markets and other industries. Our diverse offering of data, analytics, software
and services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com
Media Relations Contact
Kristin Johannsdottir
+354 868 9836
kristin.johannsdottir@nasdaq.com© 2022 GlobeNewswire
