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Nasdaq OMX has introduced the NOMXI Benchmark Bond Index family, a new suite of indices tracking the Icelandic government bond market.
The indices are based on Icelandic nominal and inflation-linked benchmark bonds that are listed and traded on Nasdaq OMX Iceland.
The new indices will provide insight and transparency into the price development of benchmark bonds, which are the most liquid Icelandic government-guaranteed bonds.
They are ideally suited for use as performance benchmarks or as underylings for exchange-traded funds (ETFs).
Commenting on the launch, Magdalena Hartman, Vice President, Nasdaq OMX Global Index Group, said: “With the new Icelandic bond indexes we have a comprehensive product offering in the Icelandic bond index series. Investors, asset managers and analysts will now gain access to a reliable benchmark for Icelandic government guaranteed bonds.”
Magnus Hardarson, Vice President, Nasdaq OMX Iceland, added: “The Icelandic bond market is highly liquid and transparent as trading occurs mostly on exchange. The Icelandic bond market has a long tradition of trading government guaranteed bonds, and these new information tools will support liquidity in the market. We are particularly delighted that these new indexes will pave the way for exchange traded funds on the Icelandic market.”
The family consists of three indices:
NOMXI Benchmark Bonds Index
NOMXI Nominal Benchmark Bonds Index
NOMXI Inflation-Linked Benchmark Bonds Index
The indices are capped market value weighted total return indices and are calculated in Icelandic Krona (ISK). All three indices are also available in a market weighted non-capped version.
The index values are calculated end of day and are denominated in ISK.