Isx.is is opening up for ISK/AUR trading within Iceland, beta tests will hopefully start next week.
This will open up for some strange market dynamics where Auroracoin will be traded locally for ISK and on foreign exchanges for BTC ~ USD. These two markets will be separated by currency controls in Iceland.
To begin with I think tha the Isx.is ISK price for AUR when calculated via official ISK/USD/BTC price will be on par with foreign exchanges. This will change when the Icelanders that own BTC and can arbitrage the two markets will deplete their BTC funds, unless the currency controls don't hold and Icelanders can freely buy BTC.
The Isx.is market is not open to foreigners because of the currency controls, so this market will have limited supply of freshly mined Auroracoin, given that miners are mostly foreigners. The supply will be more or less Airdroped coins and the demand will be driven by Icelanders interested in giving Auroracoin a chance. While foreign markets are driven by miners and foreign speculators.
Any ideas how this will play out?