The Nasdaq OMX (NDAQ) Iceland exchange will start three bond indexes based on nominal and inflation-linked benchmark bonds, paving the way for exchange-traded funds in the north Atlantic island nation’s securities market.
The three indexes, NOMXI benchmark bonds, NOMXI nominal benchmark bonds and NOMXI inflation-linked bonds, will give investors information about Iceland’s largest and most liquid assets, the exchange said in a statement. The index values will be given in Icelandic krona and will be calculated at the end of each trading day.
“With the new Icelandic bond indexes we have a comprehensive product offering in the Icelandic bond index series,” Magdalena Hartman, vice president at Nasdaq OMX, said in the statement. “Investors, asset managers and analysts will now gain access to a reliable benchmark for Icelandic government-guaranteed bonds.”
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