Skeljungur hf. has approved changes to market-making agreement with Íslandsbanki hf. The change is due to the entry into force of new Act no. 115/2021 on 1 September 2021 implementing the MiFID II legislative framework into Icelandic law, and the subsequent change in the tick size of Skeljungur´s shares.
The bid-ask spread shall now be determined with reference to Nasdaq Iceland tick size table as it is at any given time, so that the spread will be as close as possible to 2.5%, but not below 2.45%. However, market makers may be temporarily subject to the above criteria, e.g., due to circumstances created by the Nasdaq Iceland tick size table.
There will also be a bid and ask offer at the exchange rate decided by Íslandsbanki, although not by more than a 5% deviation from the last transaction price.
For further information please contact Ólafur Þór Jóhannesson, CFO, email@example.com.