Stock Market in Iceland
NASDAQ OMX Iceland
Before the financial crisis hit Iceland seriously, market cap on the equity market amounted to around 120% of GDP. This number has now been brought down to around 20% of GDP after the collapse of the three biggest banks in Iceland, Glitnir, Landsbanki and Kaupthing.
Furthermore, the fixed income market has a history of being one of the best performing bond markets in the world. Fixed income turnover had already reached record levels before the crisis, but the market suffered a considerable blow in the events as well.
It is on a good recovering phase and expected to get fully back on track in H1 2009. Market making agreements are in the process of being renewed on both the equity market and the fixed income side.
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