Client Classification

According to the Icelandic Act on Securities Transactions no. 108/2007, Arctica is obligated to classify each client according to its experience and knowledge. There are three classes of clients, retail clients, professional clients and eligible counterparties, with each classification entailing variable obligations for Arctica Finance towards each client.

Client approval

In order for securities transactions to process normally, Arctica Finance's clients must agree to and approve the following

Clients that are classified as professional clients or eligible counterparties must agree to and approve their classification. By approving Arctica Finance's policy on order execution, clients are also specifically agreeing that Arctica Finance may execute orders outside of regulated securities markets or multilateral trading facility (MTFs). Furthermore, according to the Icelandic Act on Securities Transactions no. 108/2007, Arctica is to make public orders which have not been executed, unless the client expressly instructs otherwise. 

By approving Arctica Finance's policy on order execution the client instructs Arctica Finance not to make such orders public. This is in compliance with marketpractise.