Yearbook 2018
Cyprus Stock Exchange
Nicos Trypatsas
Acting General Manager
About Cyprus Stock Exchange
Established: 1996
Chairman: Mr. Marinos Christodoulides
Acting General Manager: Mr. Nicos Trypatsas
Address: 71-73 Lordou Vironos Avenue, 1096
P.O.BOX 25427, Nicosia 1309 Cyprus
Email: [email protected]
Website: www.cse.com.cy
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It has an advanced Legal / Regulatory framework that complies with the EU Directives and internationally accepted securities practices, as well as a modern infrastructure. CSE has also introduced effective processes and a competitive pricing policies in order to better serve market needs.
The CSE aims to operate, based on a specific strategic plan, continuously implementing new development programs to improve and expand its markets, products and services. The continuous improvement of the processes, adoption of new technologies, flexible response to the market, ensuring the competitiveness of the CSE, as well as an attractive pricing policy are the main tools used to bring the CSE to a better position to face the various challenges. The CSE Council is optimistic that, by continuing in the above frameworks and based on its Strategic Planning, by introducing new procedures and initiatives to further develop the stock market, it will be able to respond to its role and will contribute substantially to the further development of the Cypriot enterprises and economy. The target and continuous intent is to attract new products, companies and markets in new sectors and innovative business activities to the CSE. The Energy sector is expected to evolve in the medium term to a significant degree, taking also into account the planned actions for the extraction and distribution of the natural gas of Cyprus, as long as the geopolitical conditions permit the timely execution of the State’s plans.
The CSE throughout the years has set a continuous target for listing strong, dynamic as well as innovative companies on its Markets, where the proper Governance and Directors’ responsibilities would be safeguarded at the highest level. The CSE offers a categorisation of its Markets, based on certain qualitative and quantitative criteria. In addition, the Emerging Companies Market (ECM) of the Cyprus Stock Exchange, that was established in the recent years, serves further diversified needs, by offering simplified listing criteria at a lower cost, therefore successfully attracting companies both locally and internationally as well as foreign investors. The ECM Market is comprised of the Equities Segment and the Bonds Segment, and has proved successful in the last years, despite the adverse economic climate.
Additionally listing on the CSE provides a number of advantages for Fund managers and investors. The CSE as an EU-Regulated and recognised Exchange, provides a better Fund profile and credibility to investors. It has fast and simple listing procedures with minimal bureaucracy, advanced technology and infrastructure, flexibility and effectiveness at a low cost. It provides therefore also a potential for listing Collective Investment Schemes, both UCITS and Alternative Funds (AIFs) on the Exchange, allowing Funds to attract increased interest from institutional investors. Our Exchange therefore provides a more personalised service at competitive fees, particularly to companies that wish to gain initial experience with EU capital markets.
Cyprus Stock Exchange is continuously diversifying its activities and services, in a dynamic mode and is committed to enhancing the competitiveness and accessibility of Cyprus for foreign investors. It is noted that CSE is establishing itself as an integral part of the country’s growth strategy, supporting efforts to strengthen Cyprus’ role as both a regional business and advanced financial center.
The CSE extremely values its participation in the Federation of Euro-Asian Stock Exchanges (FEAS) and the opportunities gained with this participation through which it is given the chance to co-operate with other Exchanges in the Region.
Cyprus has an open economy and an ideal geographical position at the crossroads of three continents – Europe, Africa and Asia. Despite the unfavorable external economic environment in several European and international economies, the Cypriot economy is showing signs of stabilization and development, leading all major international credit rating agencies to upgrade the creditworthiness of the Republic of Cyprus and its future prospects. This has greatly helped the Republic of Cyprus to raise recently significant funds from the international financial markets. In addition, Cypriot banks have recapitalized and reorganized their activities, resulting in the full lifting of all restrictions on deposits and capital movements that were imposed in 2013. Positive signs also appear in the financial results of a number of listed companies, which have shown significantly increased profits, in comparison to previous years.
The Cyprus Stock Exchange (CSE) is a fully recognised Exchange, an efficient and modern institution that is continuously developing according to its strategic plan, by offering new products, services and markets.