In light of three Icelandic financial firms’ recent membership to the Nasdaq Copenhagen exchange, the exchanges’ CEO, Nikolaj Kosakewitsch, is interviewed in the latest publication of the weekly business journal Viðskiptamogginn. Fossar Markets was the first Icelandic company to join both the Danish and Swedish exchanges in September 2018 and Haraldur Þórðarson, Fossar Market’s CEO, was asked to share his membership experience.
Positive market effect
“Membership to Nasdaq Copenhagen provides exposure not only to the larger Nasdaq-context but also to a large number of international investors,” says Mr. Kosakewitsch in the interview. He points out that when it comes to investments, the Icelandic financial environment has over time shown great adaptability. Membership to the Danish exchange is therefore a natural next step.
For banks and financial firms looking to offer their clients expedient and affordable services, Kosakewitsch says the answer for them is to add membership to the Danish exchange. “Especially if you already are a member of the Icelandic exchange, as these companies are.” He says membership to more than one Nasdaq exchange also has a positive effect on companies with a dual listing. “Investor’s increased and improved access to share trading is reflected in improved pricing.”
Better and faster service
In the article, Mr. Þórðarson explains that Fossar Market’s experience of the Nasdaq Copenhagen membership has been outstanding. Fossar also became members of the Nasdaq Stockholm exchange at the same time. “Since September we have traded fairly regularly in both exchanges with good results. The direct access to the two exchanges is beneficial, especially when it comes to trading with the shares of Össur in Denmark and Arion Bank in Sweden. The membership makes all trades with these companies easier and less costly for our clients,” he says.
The article points out that Marel is about to choose between Denmark and the Netherlands as a choice for a dual listing. “If Marel chooses Denmark, which would not be out of the ordinary, it will be beneficial for shareholders to have Icelandic financial firms as members to the Nasdaq Copenhagen exchange,” Mr. Þórðarson says in the interview, also pointing out that Fossar Markets has access to approximately 80 exchanges internationally, albeit through intermediaries. “This can affect pricing as there are a larger number of intermediaries. With direct access, we can offer even better and faster service.”