Saga Capital market
maker for Straumur
Straumur and Saga Capital have signed a Market Making Agreement where Saga Capital acts as market maker for shares issued by Straumur on NASDAQ OMX Iceland.
This means that Saga Capital will submit daily bid/ask offers for shares in Straumur 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 Straumur on the NASDAQ OMX and to promote efficient and transparent price formation.
The terms of the agreement are as follows:
- Saga Capital is committed to make daily bid and offer quotes on all trading days for a minimum of ISK 1.000.000 at nominal value at a share price decided by Saga Capital.
- Maximum bid/ask spread shall not exceed 1.5% and the deviation from the last transaction price shall not exceed 2.0%.
- Saga Capital secures the amount of the total trade for one day to be at nominal value at a maximum ISK 20.000.000.
This agreement will be active as of 15 December 2008.