CSE and ASE mark one year of common trading platform operation

by Christa Nicolaou

Athens (CNA) — Chairmen of the Cyprus Stock Exchange (CSE) and the Athens Stock Exchange (ASE) Giorgos Koufaris and Sypros Kapralos respectively expressed satisfaction over the results of the common trading platform between the CSE and ASE, a year after it was launched.
In a press conference held in Athens both Chairmen said the common trading platform’s first year of operation was crowned with success and both stock exchanges have been benefited from it.
They also referred to the close cooperation and good relations, which prevail between the CSE and ASE.
In statements to CAN, Giorgos Koufaris said that the minor technical problems, which existed and hampered the operation of the common trading platform, have been tackled and resolved and added that now the platform is operating smoothly.
He also described the investor road show, organized jointly by the CSE and the ASE in Athens yesterday, as very successful. Koufaris added that nine CSE listed companies have taken part in the road show addressed to Greek institutional investors and expressed his content for the course of the contacts.
The CSE, he said, “is a modern, flexible and rising market in South Eastern Europe. Together with the ASE, we will examine new projects for mutual benefit. The new regulations we promote will expand our abilities and allow us to gain ground in the competitive environment”.
In his statements, Kapralos said, “one year after the launching of the common trading platform the operation has been crowned with success and both bourses have been benefited”.
According to a press release, ASE members and CSE members respectively have conducted nearly 21.7% and 0.9% of the daily exchange activities in the Cypriot market and the Greek market.
The capitalization of the CSE has been increased by 106% during the first year of operation of the common trading platform.
The CSE daily traded volume average between 30 October 2006 – 30 October 2007 reached 17.98 million euros, compared to 8.8 million recorded between 1 January 2006 – 25 October 2006.
Foreign participation at the CSE has also been increased reaching 9.9% of the total capitalization of the CSE, compared to 3.6% a year ago.