The Federation of Euro-Asian Stock Exchanges
Cyprus Stock Exchange
52 53
About Company
Established: 1996
Address: 71-73 Lordou Vironos Avenue, 1096
P.O.BOX 25427, Nicosia 1309 Cyprus
Email: [email protected]
Working Hours: 7:30 - 18:00
Website: www.cse.com.cy
- Joined FEAS in 2016 -
Nicos Trypatsas
Acting General Manager
Year in review
In 2021 the Cyprus Stock Exchange (CSE) General Index exhibited an upward trend. The CSE General Index closed at 68,66 points, with a positive year-on-year change of 21,16 percent. At year-end, the equity market capitalization, amounted to EUR 1,96 billion, compared to EUR 1,63 billion at the end of 2020, thus registering an increase of 20,50 percent from the previous year. The year’s turnover amounted to EUR 85,0 million, which represents a year-to-year increase of 61,42%, compared to the turnover of EUR 52,7 million in 2020. However, it should be noted that during the last few years, after the banking crisis that occurred in 2013, accompanied by a negative impact on business and the market, as well as not forgetting the recent negative impact of Covid-19, we have seen significantly reduced market interest and trading activity. During Covid-19 crisis,
The CSE is taking several initiatives, for further developing its markets, products, and services, in various ways. Moreover, it should be emphasised that the CSE is expanding its products and services, in other “non-traditional core” business services, such as specific services provided to the Government in the Energy sector, other ancillary new services, as well as the provision of advanced operations with the use of new technology. Moreover, the Exchange is continuously upgrading its technological infrastructure, so that to be in line with new international developments and practices. Within this framework, it is stated that the Cyprus Stock Exchange, was the leader in our country, in introducing the innovative initiative for providing electronic signatures in Cyprus, through an effective framework and by a team with sufficient expertise and know-how. It is in our view, that the Exchange could be utilised, towards the direction of restoring the enterprises and the economy from the negative effects of the pandemic.
Of paramount importance, are the efforts carried out at present, for the implementation of the strategic plan for the CSE that will lead to its privatization. The CSE announced on April 6th, 2022, that it has signed an agreement with Harneys Loizou Armila Shearman Consortium, designating them as the consultants tasked with the preparation of a business plan for the CSE. The consortium will also be tasked with handling all legal issues and actions regarding the selection of the most suitable strategic partner and investor for the CSE. The project, according to the terms of the tender, is expected to be completed within 14 months from the signing of the agreement, with a maximum transitional period of 9 months. The privatization terms include the selection of a strategic partner and investor, who will be a reputable stock exchange providing added value to the CSE, so that the stock market in Cyprus can be further developed, contributing substantially to the further development of the enterprises and the economy. Through the implementation of this plan, the organization will become more flexible, acquire additional know-how, and become more adaptable to the changing conditions in stock markets, taking advantage of new opportunities and developments.