Íslandsbanki: MP bank market maker for covered bond ISLA CBI 24
Íslandsbanki hf. has selected MP bank as market maker for the Bank's ISLA CBI 24 covered bond. The market maker is obligated to submit bids for at least ISK 20,000,000 nominal value, each day before the market opens.
The market maker is required to renew its bids within 15 minutes of their having been accepted. The bids are valid within the trading day. The maximum spread between the market maker's bid and ask prices can be no higher than 1.8%.
If trading in one business day reaches ISK 60,000,000 nominal value, the market maker may cease to present bids/offers until the next business day.
The market making is effective as of Wednesday 7 March 2012.