OMX to service the national OAM in Iceland
Press release, January 14, 2008
OMX, a leading expert in the exchange industry, has signed an agreement with the
lcelandic Financial Supervisory Authority on providing them with software for
the Officially Appointed Mechanism (OAM) for the central storage of regulated
information in Iceland. OMX Nordic Exchange Iceland will service the OAM
responding to the objectives of the European Union's Transparency Directive. All
regulated information published by issuers of securities , as prescribed by law,
will be archived in the central storage, which will go live February 1st 2008.
The European Union's Transparency Directive took effect in November 2008 in
Iceland. According to the directive, each member state must appoint a central
storage to which issuers of securities operating in the area of the European
Union must file their regulated information, including prospectuses, interim
reports, financial statements, profit warnings and information dealing with
changes in ownership.
The obligation to deliver regulated information to the Icelandic central storage
applies to issuers of securities which have been admitted to trading on OMX
Nordic Exchange Iceland and companies domiciled in Iceland of which securities
are subject to trading in another country of the European Economic Area.
Published information must be delivered to the storage with their original
attachments and different language versions in the same form as they were
published to the market. Issuers of securities can either use an external
service provider that automatically delivers the information to the central
storage, or they deliver the information manually to the storage as long as the
delivery takes place at the same time when the information is published.
The legal obligation to deliver regulated information to the central storage
does not remove the obligation of issuers of securities to publish information
as usual since delivering information to the storage is not the same as
informing the market.
For further information, please contact:
Kristin Johannsdottir, Communications, OMX Nordic Exchange Iceland +354 525
2844 / +354 868 9836 kristin.johannsdottir@omxgroup.com
Kristjana Grimsdottir, FSA, +354 525 2700 kristjana@fme.is
About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic
Exchange comprises over 800 companies including its alternative market First
North. OMX provides technology to over 60 exchanges, clearing organizations and
central securities depositories in over 50 countries. The Nordic Exchange is not
a legal entity but describes the common offering from OMX exchanges in Helsinki,
Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a Nordic
Large Cap company in the Financials sector on the OMX Nordic Exchange. For more
information, please visit www.omxgroup.com.
