Saga Capital market maker
for Føroya Bank
Friday 29. August 2008 14:45
Føroya Bank PF and Saga Capital Investment Bank have signed a market making agreement where Saga Capital acts as market maker for shares issued by Føroya Bank.
This means that Saga Capital will submit daily bid/ask offers for shares in Føroya Bank through NASDAQ OMX, before the market opens each day. The offers are only valid within that day.
The purpose of the agreement is to facilitate trading and improve liquidity in the shares of Føroya Bank on the NASDAQ OMX and to promote efficient and transparent price formation.
The terms of the market making agreement are as follows:
- Saga Capital will submit daily bid and offer quotes for shares in Føroya Bank for a minimum of 1,000 shares at a price determined by Saga Capital.
- Maximum bid/ask spread shall not exceed 1.25 %
- The deviation from the last transaction price shall not exceed 2.0%.
- The maximum obligated total trades per day is DKK 5,000,000 at market value.
The agreement is effective as of September 1st. 2008.
This means that Saga Capital will submit daily bid/ask offers for shares in Føroya Bank through NASDAQ OMX, before the market opens each day. The offers are only valid within that day.
The purpose of the agreement is to facilitate trading and improve liquidity in the shares of Føroya Bank on the NASDAQ OMX and to promote efficient and transparent price formation.
The terms of the market making agreement are as follows:
- Saga Capital will submit daily bid and offer quotes for shares in Føroya Bank for a minimum of 1,000 shares at a price determined by Saga Capital.
- Maximum bid/ask spread shall not exceed 1.25 %
- The deviation from the last transaction price shall not exceed 2.0%.
- The maximum obligated total trades per day is DKK 5,000,000 at market value.
The agreement is effective as of September 1st. 2008.