Transcript ΔΙΚΤΥΟ X-NET

Regulated Exchange of EU.
Cyprus has joined the EU since May 2004.
Cyprus has joined the Eurozone as of January 2008.
Cyprus, as an EU Member – state, can act as a bridge between
the Exchanges of the Middle East area and EU, as far as
harmonisation with legislation is concerned.
 Potential is provided for the development of business among our
capital markets, regarding issues such as cross-border activity and
listings. Benefits can be obtained through economies of scale and
synergies.
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Supervising Body
Securities & Exchange Commission
Listing of Securities (127 issuers)
Markets
Clearing & Settlement Processes
• Equity Market
• Opening of accounts of investors in the
Central Registry,
• Bond Market
• Settlement of transactions,
Products
• Clearing of transactions,
• Shares
- 129 issues
• Warrants - 10 issues
• Corporate Bonds
• Registration of securities holders in the
Central Registry.
- 15 issues
• Government Bonds & Treasury Bills - 42 issues
Members of the Cyprus Stock Exchange, Custodians
INVESTORS
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CSE MAIN STATISTICS
2009
2010
(as at 20-05-2010)
€5.447.670
€3.233.802
Remote Members Share on the Value traded
4,93%
6,00%
Foreign Investors Shares Ownership
9,80%
10,38%
Market Capitalisation: Shares
€ 7.321 mill.
€ 5.715 mill.
Market Capitalisation: Total
€ 14.173 mill
€ 13.866 mill
CSE General Index - Beginning of year
1.101,67
1.580,32
CSE General Index - Year End
1.597,23
1.206,35
CSE General Index Pch%
44,98%
-23,66%
Average Daily Value Traded
Cross Membership: 11 ASE Members operate as CSE Remote Members
9 CSE Members operate as ATHEX Remote Members
Custodians:
14 Custodian Organizations operate at the CSE
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Average Daily Value Traded(€)
Value Traded (€)
€ 12.000.000.000
€ 50.000.000
€ 45.000.000
€ 10.000.000.000
€ 40.000.000
€ 35.000.000
€ 8.000.000.000
€ 30.000.000
€ 6.000.000.000
€ 25.000.000
€ 20.000.000
€ 4.000.000.000
€ 15.000.000
€ 10.000.000
€ 2.000.000.000
€ 5.000.000
€0
€0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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• Modern, well-functioning regulated securities market.
• Aims at operating as a regional gateway for investors in
the Middle East, the Balkans region and the South and
Eastern Europe.
• The CSE has state – of - the - art operational and legal
framework, fully harmonised with EU Directives and
international practices.
• The CSE offers all basic functions of securities trading (i.e.
trading, clearing, settlement and registration, central
registry).
• Simple listing procedures, competitive pricing policy,
flexibility and effectiveness.
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 Listed companies on the CSE can benefit through:
•Access to international institutional funds.
•Access to Eurozone.
• MOUs have been signed with other Stock Exchanges in our region (i.e.
Egypt, Athens, Bucharest, Malta,).
• Close ties with Amman Stock Exchange
• MOU with OJCS VTB Bank.
• Cyprus Stock Exchange has recently been successfully approved by the
Federal Financial Markets Service (FFMS) of Russia
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Joint Platform with the Athens Exchange
range of products and services.
provide a wider
Remote Members in Cyprus (from Greece) and Remote
Members in Greece (from Cyprus).
Operation of Custodians (International, Greek and Cypriot
Custodian Banks) in the securities market of Cyprus.
European investors can buy and sell securities (shares,bonds)
of all listed companies on the CSE, that are issued in Euro
currency.
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(A) Recently:
(a)
ECM (Emerging Companies Market)
•
simple listing requirements, lower cost for companies.
•
Provide wider opportunities to investors/market participants and assist companies to
raise capital and be strengthened financially.
(b)
(c)
New competitive pricing policy, significant reduction in costs
New Joint Index with Athens Exchange on Banking Sector
Derivative) on this Index (in Athens Derivatives Market)
New Product (Future –
(B) Projects Under implementation:
• New Tools for liquidity (i.e. Market Maker, Securities Lending)
• Over the Counter Trades (OTC)
• GDR’s (Global Depository Receipts)
•ETF’s (Exchange Traded Funds)
•Participation in Link Up Markets project.
• Participation in Target 2 Securities project.
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RUSSIAN COMPANIES:
• List their securities on the CSE, that can be traded by Cypriot and Greek Members
and bought /sold by international Institutional Investors.
[Regulatory framework has been prepared for the introduction of Depository
Receipts (GDR’s)].
• To list Corporate Bonds in Euro currency, (that could obtain wider visibility by
market participants and be traded by European Investors).
RUSSIAN INVESTORS:
• Can invest in all Cypriot and Greek listed securities.
• Their investments can be handled in custody by a number of Custodians
(International, Greek Banks) that operate remotely on the CSE (through their
Athens’ branches, offices as well as by Cypriot Custodians - Banks).
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