Iceland: Implementation of T+2 settlement cycle

Effective from trade date

6 October 2014

NASDAQ OMX Iceland will set the settlement of all securities on the Main Market and First North Iceland at Trade Date plus two business days (T+2).

From that day, the settlement cycle of equities and fixed-income instruments will change from T+3 and T+1 respectively to T+2.

By moving to settlement cycle T+2, NASDAQ OMX participates in the harmonisation effort taking place within the European markets in relation to the implementation of the EU CSD regulation while improving efficiency in the Icelandic securities market.

Further information

For the instruction specification formats used in the Icelandic market, please refer to the Instruction specifications – CreationOnline and Instruction specifications – Creation via SWIFT and CreationDirect.

For further information, please contact Clearstream Banking Customer Service or your Relationship Officer.