Icelandic Individual Transferable Quota System

Management
Country: 
Iceland
Program Start Date: 
1975
Management Authority: 
Ministry of Fisheries and Agriculture
Management Oversight: 
Directorate of Fisheries
Region: 
Europe
Large Marine Ecosystem: 
Iceland Shelf
Species Information
Common name Fish type Genus Species
American plaice Finfish - Benthic, Demersal, Groundfish Hippoglossoides platessoides
Atlantic catfish Finfish - Benthic, Demersal, Groundfish, Deepwater & Arctic Anarhichas lupus
Black halibut Finfish - Benthic, Demersal, Groundfish Reinhardtius hippoglossoides
Blue whiting Finfish - Pelagic Micromesistius poutassou
Capelin Freshwater & Diadromous Mallotus villosus
Cod Finfish - Benthic, Demersal, Groundfish Gadus morhua
Cod Finfish - Benthic, Demersal, Groundfish Gadus morhua
Cod Finfish - Benthic, Demersal, Groundfish Gadus morhua
Dab Finfish - Benthic, Demersal, Groundfish Limanda limanda
Haddock Finfish - Benthic, Demersal, Groundfish Melanogrammus aeglefinus
Herring Finfish - Pelagic Clupea harengus
Herring Finfish - Pelagic Clupea harengus
Iceland scallop Molluscs (e.g., Clams & Squid) Chlamys islandica
Lemon sole Finfish - Benthic, Demersal, Groundfish Microstomus kitt
Ling Finfish - Benthic, Demersal, Groundfish Molva molva
Mackerel Finfish - Pelagic Scomber scombrus
Monkfish Deepwater & Arctic Lophius piscatorius
Nephrops lobster Crustaceans (e.g., Lobster & Shrimp) Nephrops norvegicus
Northern shrimp Crustaceans (e.g., Lobster & Shrimp) Pandalus borealis
Northern shrimp Crustaceans (e.g., Lobster & Shrimp) Pandalus borealis
Plaice Finfish - Benthic, Demersal, Groundfish Pleuronectes platessa
Pollock Finfish - Benthic, Demersal, Groundfish Pollachius virens
Redfish Finfish - Benthic, Demersal, Groundfish, Deepwater & Arctic Sebastes marinus
Redfish Finfish - Benthic, Demersal, Groundfish Sebastes mentella
Tusk Finfish - Benthic, Demersal, Groundfish Brosme brosme
Witch flounder Finfish - Benthic, Demersal, Groundfish Glyptocephalus cynoglossus
Fishing Mortality Control: 
Total Allowable Catch
Program Attributes
Approach: 
Quota-Based
Program Type: 
Individual Transferable Quota (ITQ)
Species: 
Multi-species
Number of species: 
22
Marine or Freshwater: 
Marine
Fishing Rights Holder: 
Individual
Tenure of Shares: 
Perpetuity/Assumption of Perpetuity
Secure: 
Yes
Transferable: 
Yes
Monitoring Requirements: 
Dockside Monitoring, Logbooks, On-board Observers
Gear Type: 
Dredge, Gillnet, Hook and Line, Seine, Trawl
Participation
Initial Allocation Method: 
Unknown