Arion Bank hf. and MP Bank hf. have signed a Market Making Agreement, where MP Bank hf. will act as a market maker for Covered Bonds issued by Arion Bank hf., which have been admitted to trading on the Icelandic stock exchange, Nasdaq OMX Iceland (ARION CBI 34).
MP Bank hf. will make bid and ask offers for the Covered Bonds before the opening of the Icelandic market each day. The minimum bid and ask offer is ISK 20,000,000 at nominal value. The maximum bid-ask spread shall not exceed 1%. The maximum obligated total trades per day is ISK 60,000,000 at nominal value.
The agreement is effective as of 23 March 2012.
Arion Bank hf. has terminated the Market Making Agreement with Straumur hf., and Straumur will stop acting as a market maker for Arion Bank's Covered Bonds (ARION CBI 34) as of 10 April 2012.