HistoryEarly in the year 2005 a few members of current M5 staff were working in equity trading with US and Scandinavian stocks and discovered a major information problem when it came to good, solid and concentraded stock information accessible on-line. This problem was especially visible in context with Icelandic stocks, bonds and currency. In America there had been good development for on-line information sources which had grown to be among the largest websites in the region. As a result a decision was made to make M5.
In Iceland the only place for market information on-line were the websites of the largest domestic banks where things were done in many other ways then well. Data was poorly presented and many detailed aspects were lacking. Lack of historical data was amongst other things a joint problem with the leading websites when M5 was launched. The Icelandic Stock Exchange (ICEX) had a website running which was extremely unreliable and inefficient mostly due it being based in Stockholm. Traders and others watching the market could not trust on-line sources for the Icelandic market. The aim of M5 was to change that.
With the launch of M5 investors as others could for the first time find a large comprehensive source of information about the Icelandic stock, bonds and currency markets in one place. When it comes to information distribution M5 has made the domestic market similar to the one in the United States and other highly developed markets. As a result M5 has been accepted by the market far beyond what had been hoped for and is today the leading information website for Icelandic market data.
Research and development is what the M5 team spends most of its time doing every day. Many new and exciting things are on the drawing board which will be announced when the time is right here on M5.
