Athens and Cyprus stock exchanges expand their cooperation

Cyprus and Athens Stock Exchanges have expanded their cooperation framework by signing additional agreements. A joint announcement says that the two stock exchanges decided to sign the additional agreements “recognizing the mutual benefits of their cooperation so far through the Common Platform as well as the significant challenges which they have to face for their future growth”.
According to the announcement, the expanded cooperation between Hellenic Exchanges Group (HELEX) and Cyprus Stock Exchanges (CSE) aims for the development of new products and services for both markets’ participants and to the increase of their competitiveness by utilizing the diminished operating cost and the economies of scale provided by the homogeneous technological and regulatory environment under which the two exchanges operate».
It is also added that “within this framework, the two stock exchanges redefined the way of their cooperation with additional agreements to the already used infrastructure and at the same time recognize the need for expanding their cooperation by opening the derivative market to the Cypriot members, as well by offering new services regarding CSE market data feed.
Finally, it is mentioned that “a final settlement of the rights of the Cyprus depository for the Cypriot Shares which are traded secondarily in the Greek market took place».