Íslandsbanki hf. has selected MP bank as market maker for the Bank's ISLA CBI 26 covered bond. The market maker is obligated to submit bid and ask offers for at least ISK 20m nominal value, each day before the market opens. The market maker is required to renew its bid and ask offers within 15 minutes of them being accepted. These are valid only within the trading day. The maximum spread between the market maker's bid and ask prices can be no higher than 1.15%.
If trading in one business day reaches ISK 60m nominal value, the market maker may cease to present bids/offers until the next business day.
The market making is effective as of Thursday 7 May 2015.