Cyprus Business Now

The Cyprus Stock Exchange (CSE) and Athens Exchange Group (ATHEXGroup) announced on Wednesday their successful collaboration, resulting in the CSE becoming compliant with the Settlement Discipline Regulation, as of February 1st 2022, as well as the CSDR infrastructure, enabling the full support of Investor CSD services.

“Our long-lasting co-operation with the Cyprus Stock Exchange, which has resulted in the Common Platform operation since 2006 continues to provide new win-win opportunities for our Partner and ATHEX CSD,” ATHEXGroup CEO Socrates Lazaridis said.

“We are glad that we have successfully provided the technical infrastructure and closely co-operated over 2021 to facilitate our Partner in complying with SDR and launching its Investor CSD services to allow links for better servicing the Cypriot capital market,” Lazaridis added.

The Athens Exchange Group’s partnership with the CSE allowed the latter to upgrade the offered Clearing, Settlement and Registry platform that both entities are using as part of the Common Platform.

“The Athens Exchange Group and Cyprus Stock Exchange have exchanged experiences throughout the years and joined forces to adapt to the new legal and regulatory framework, while enjoying economies of scale and synergies,” CSE chairman Marinos Christodoulides said.

“The Athens Exchange Group’s expertise and technical infrastructure services have been invaluable to the Cyprus Stock Exchange in enhancing the services it already provides but also in expanding to new areas and services,” he added.

The Limassol Chamber of Commerce and Industry (Evel) said on Wednesday that it welcomes the discussion around the potential creation of a technology park in Pentakomo.

The issue was put forth by the House trade committee and asks that the state proceeds with the necessary procedures for the development of the project.

The chamber said that representatives from all parties have rightly stated that it is unacceptable for this project to remain stagnant, despite the fact that there are clear indications of investment interest.

“The Limassol Chamber of Commerce and Industry aligns its voice with that of the deputies urging the state to proceed with all the necessary procedures for the project, without further delay, according to the shared estimate that the technology park will contribute substantially to the development of research and innovation, sectors that are key to the present and the future and where our country is proven to be lagging behind,” the chamber said in a statement.

The Cyprus Stock Exchange (CSE) ended Wednesday, February 2 with minor losses.

The main Cyprus Stock Market Index was at 69.65 points at 12:35 during the day, reflecting a drop of 0.3 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 41.82 points, which represents a decrease of 0.29 per cent.

The total value of transactions came up to €23,720.

In terms of the sub-indexes, the main index fell by 0.7 per cent, while the alternative index rose by 0.75 per cent. The investment firm and hotel indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-2.23 per cent), Keo (no change), Louis Plc (no change), Atlantic Insurance (+3.37 per cent) and Pandora (no change).