Reykjavik, September 17, 2026 Nasdaq Iceland announces that Central Counterparty (CCP) clearing will be introduced for the Icelandic equity market, with implementation targeted in the first quarter of 2028. The decision marks one of the most significant advancements in the Icelandic securities market in recent history and an important step in the continued modernization of the market. CCP clearing is a core component of modern equity market infrastructure and is widely used across most developed European markets. It will bring the Icelandic market further in line with international standards and investor expectations, strengthening its resilience, efficiency and accessibility while supporting its long-term growth and competitiveness.
By centralizing counterparty risk and enabling multilateral netting, CCP clearing is expected to deliver several important benefits to the Icelandic market, including:
- More efficient clearing and settlement through multilateral netting;
- Lower settlement and capital costs for market participants;
- Increased accessibility for international investors and intermediaries;
- Enhanced liquidity and more efficient price formation;
- Reduced counterparty risk and enhanced market stability.
"At Nasdaq, we are committed to building resilient and connected capital markets that support economic growth and serve issuers and investors across the region," says Nikolaj Kosakewitsch, Head of European Markets Services at Nasdaq. "The introduction of CCP clearing in Iceland is an important step that will bring Iceland's capital market further in line with the structure and clearing model used across most developed European equity markets."
"The introduction of central counterparty clearing marks a major milestone in the continued development of Iceland's capital markets," says Magnus Hardarson, President of Nasdaq Iceland. "CCP clearing will strengthen the market's competitiveness, improve access for international investors, and support greater liquidity and participation. We look forward to working with market participants, regulators and our CCP partner as we move toward the targeted implementation in 2028."
Cboe Clear Europe will be Nasdaq's CCP partner for the Icelandic equity market. The partnership will leverage Cboe Clear Europe's extensive experience operating clearing services in European financial markets and support the efficient introduction of CCP clearing in Iceland.
CCP clearing will initially be introduced for selected equities listed on Nasdaq Iceland, with the scope expected to expand over time as the framework develops.
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