Icelandic Stock Products: Adjustment of Kaupthing Bank, Glitnir and Landsbanki in Icelandic indices (4/08)

The following decision is based on press releases from the Financial Supervisory Authority in Iceland (FME) dated October 8, 2008 and October 9, 2008 and the subsequent trading halt. Based on new legislation, the Icelandic FME has taken control of Kaupthing Bank, Glitnir and Landsbanki to ensure continued commercial bank operations in Iceland. 

After not being able to receive valuations from market participants OMX Nordic Exchange has according to rule 5.1 in the “Rules for the Construction and Maintenance of the NOREX All-Share, Sector, Benchmark and Tradable indices” and rule 4.1 in the “Rules for the Construction and Maintenance of the OMXI15 Tradable index”, decided to adjust today’s closing price of Kaupthing Bank, Glitnir and Landsbanki to zero (0) in the index calculation.

Kaupthing Bank (KAUP, IS0000001469), Glitnir (GLB, IS0000000131) and Landsbanki (LAIS, IS0000000156) will remain at price zero in the Icelandic indices until further notice.