Marel hf. has made an agreement with Landsbanki Íslands hf. (Landsbanki) regarding market making for the issued shares of Marel hf. The purpose of the agreement is to improve liquidity and to enhance transparent price formation in the company’s shares on the Iceland Stock Exchange.
As a market maker, Landsbanki is obligated to submit in its proprietary account daily bid and ask orders for shares in Marel hf. (MARL) for a minimum of 100.000 shares at a price determined by Landsbanki. The maximum bid/ask spread may not exceed 1.5%. New orders shall be placed within 15 minutes in succession to prior orders getting filled. Under the agreement, Landsbanki is obligated to provide liquidity for up to ISK 75 million in market value daily.
Source: www.icex.is
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