About Company
Cyprus Stock Exchange
60 61
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 -
Marinos Christodoulides
Chairman
Year in review
The course of the Cyprus Stock Exchange in 2023 is considered quite satisfactory since, based on statistical data, the CSE General Index registered an increase of 52.19% compared to 2022 (until 27.12.2023). It is noted that the General Index had also registered an increase in 2022, at the non-negligible rate of 30.42%, compared to the corresponding performance of the Index in 2021.
This year's performance is the result of increased investor interest and, in particular, the performance of a number of specific listed companies, including those of the banking sector, which announced substantial profits both in 2022 and in the first three quarters of 2023.
The performance of the Stock Exchange in 2024 will depend on a number of factors affecting the Market, as well as on the corporate and economic outlook of the companies and the country in general. Admittedly, based on the major disruptions and geopolitical developments we have witnessed over the last two years and taking into account their implications, there is no doubt that the coming year is expected to be accompanied by important challenges. Therefore, the future course of the Markets can never be guaranteed and, in reaching their decisions, investors should always and unfailingly take into consideration all available data and seek investment advice only from accredited investment advisors.
Noteworthy statistics for 2023 include the increased average daily trading volume by approximately 21.5% compared to the corresponding trading activity in 2022, as well as an increase in the participation of foreign investors by 17%. Total market capitalisation has also increased significantly by 26.5%, reaching 9.9 billion. Also of note are the new listings of corporate securities, mainly related to the CSE Emerging Companies Market, whose capitalisation (stock exchange value), compared to 2022, increased by 53.5%, reaching 5.8 billion. Finally, it is noted that approximately 10% of the average trading activity has derived from Members (stock exchange companies) registered with the CSE and operating remotely on behalf of foreign investors.
In 2023, the Stock Exchange continued to develop new initiatives in order to expand the
products, markets and services provided to Market participants. Here follows a brief summary of these initiatives:
- Advancement of the privatisation process of the CSE, further to the relevant decision of the Council of Ministers. The Ministry of Finance has recently launched the consultation on the Bill that will govern the privatisation and efforts to implement the project are expected to intensify in 2024.
- Emphasis is placed on developing the Bond Market through the CSE, with efforts focusing on the upcoming parallel listing on the CSE of the Republic’s European EMTNs, as well as the listing of a special domestic issue for the bonds within 2024.
The Federation of Euro-Asian Stock Exchanges