CSE signs final agreement for common platform with ASE

The Athens Stock Exchange and the Cyprus Stock Exchange signed the final agreement for the launch of the common platform on October 30, 2006. 

 

The common CSE-ASE platform will strengthen the long-term and prosperous cooperation between the two stock exchanges and will open up new prospects for a development in the Balkans and the wider Southeast Europe.  It aims at the more effective operation of the two markets, with common technological infrastructure and compatible regulatory framework. 

 

The Common Platform will facilitate the access of the participants (members, institutional and private investors, banks-custodians, issuers etc) in both markets, the Athens Stock Exchange and the Cyprus Stock Exchange, and will contribute to the formation of a homogeneous, efficient and effective environment for the conduct of transactions in the two markets, in line with the EU and the international standards, and the reduction of the operating cost with the improvement of the economies of scale and the investors’ cost of access in both markets. 

 

ASE Chairman, Spyros Kapralos stated: “This is an exceptionally important moment for us for the project that will boost the accessibility and liquidity of the Greek and Cypriot capital market has become true.  I believe that all those who are looking for new investment opportunities in reliable and efficient markets with low cost of access, are now able to strengthen their presence in the Greek and Cypriot market, taking advantage of the potentialities that the Common Platform offers.  I would like to thank the Chairman, General Manager, Head of the Project, the Managerial team and the staff of the Cyprus Stock Exchange and the Athens Stock Exchange for their hard work.

 

CSE Chairman, Akis Cleanthous, stated that the completion of the Common Platform is a main parameter for the full enforcement of the CSE strategic plan 2003-2006 and expressed his content for the achievement of all CSE strategic goals, including the reformation of the institution in Cyprus.  The signing of the final agreement between the CSE and the ASE crowns an intensively active period for the CSE.  Mr. Cleanthous thanked the members of the CSE Council, the General Manager, the Managerial team and the CSE staff for their hard work. 

 

Cleanthous also thanked the Chairman, Vice-Chairmen, Managerial team and staff of the Athens Stock Exchange for their close and constructive cooperation. He also stated that he is confident about the mutual benefits that the CSE and the ASE will enjoy after the completion of the ambitious strategic plan.