Custody agreement

Arion Bank offers you the key to doing business on the Iceland Stock Market (ICEX), as well as all major international markets.

Exchange rate is listed daily, both for non-Icelandic securities (Bloomberg and Reuters) and Icelandic securities
Monitoring of domestic and foreign securities (i.e. dividends, bonus shares, mergers, interest payments and redemptions)
Monitoring of housing bonds
Regular statements of holdings and portfolio movements
We offer two types of portfolios: managed portfolios under Arion Bank management pursuant to a management contract, and custody portfolios managed by the investor.

Opening a custody account with Arion Bank

Print two copies of the custody agreement form (below) and sign them

Custody Agreement Companies

Send both copies to Arion Bank along with:
  • An Authorised Signature and Signing Instruction list
  • A Power of Attorney from the company to the person who has the authority to sign the contract and operate the account if different from the Authorised Signature list
  • A certified photocopy of a certificate of registration which carries name, ID#, legal residence of company and the name of the company's CEO. The certificate must have an issue date within the last 3 months.
  • Financial institutions that operate within the European Economic Area (EEA) do not need to provide a certified photocopy of the CEO passport.

We will apply for an Icelandic tax ID on behalf of the company, in accordance with Icelandic laws, as soon as the documents have arrived.
Our postal address is: Arion Bank., c/o Custody Group, Borgartún 19, 105 Reykjavík, ICELAND.