Press release, January 14, 2008
OMX to service the national OAM in Iceland
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.
