Have you traded in Icelandic shares?

Nasdaq Iceland, formerly known as the Icelandic Stock Exchange (XICE) (Icelandic: Kauphöll Íslands [ˈkʰœypˌhœtl ˈistlan(t)s]), is a stock exchange located in Iceland. The exchange was established in 1985 as a joint venture between several banks and brokerage firms on the initiative of the Central Bank. Trading began in 1986 in Icelandic government bonds and trading in Icelandic shares started as late as 1991. Trading in Icelandic shares increased rapidly thereafter. A wide range of companies are currently listed on the exchange, including companies in retailing, fishing, transport, banking, insurance and many other areas. Due to the small size of the Icelandic economy and the low cost of listing, many of the companies traded on XICE are relatively small and relatively illiquid. All domestic trading in Icelandic bonds, shares and funds takes place on XICE. Bonds and shares are traded regularly, although liquidity is low compared to other exchanges. No funds are currently listed on the market. However, there is one exchange-traded fund, Landsbréf – LEQ UCITS ETF (LEQ) which is traded. Since its foundation, XICE has used various electronic systems. Since 2000, the exchange has used the NOREX Alliance’s SAXESS system, which allows cross-listing of shares on Nordic exchanges. No foreign company lists directly on XICE, as the small size and illiquidity of the market makes such an action redundant. Conversely, few Icelandic companies have listed abroad, including DeCODE. Faroese bonds were listed on behalf of Virðisbrævamarknaður Føroya in November 2003, and since December 2007 four Faroese shares have been listed on the OMX Nordic Exchange in Iceland. On September 19, 2006, the Icelandic Stock Exchange was taken over by the larger competitor OMX Nordic Exchange. After reaching its pre-recession peak of 3495.28 on July 20, 2007, the OMX Iceland All-Shares Index collapsed to its low of 167.77 on April 8, 2009, a 95.2% fall from peak to trough. Nine years later, the index had not yet reached 670. The OMX Iceland All-Shares Index ended the 2024 trading year at 2 388.76.

Nasdaq Iceland in figures

5 companies listed on First North 27 companies listed on the Main Market Together, these 32 companies have an aggregate market capitalization of €17 billion.

A compilation of Icelandic stocks

This list presents the listed companies in Iceland, ranked by market capitalization, and provides insight of the companies in the Icelandic market. All data as of December 30, 2024.

Note that Embla Medical hf is also traded on Nasdaq Copenhagen in Denmark. Arctic Fish Holding AS and Kaldvik AS are also traded on the Oslo Stock Exchange.

Viking offers price data on Icelandic shares

Do you want to follow and analyze Icelandic stocks? You can do so by adding the extension Icelandic shares, from as little as SEK 79 per month.

About the Vikingen

With Vikingen’s signals, you have a good chance of finding the winners and selling in time. There are many securities. With Vikingen’s autopilots or tables, you can sort out the most interesting ETFs, stocks, options, warrants, funds, and so on. Vikingen is one of Sweden’s oldest equity research programs.

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