Cyprus and Malta Stock Exchanges sign MoU

The Malta Stock Exchange and the Cyprus Stock Exchange have signed a Memorandum of Understanding, at the Malta Stock Exchange premises in Valletta.

According to a press release, the Memorandum of Understanding was signed by Arthur Galea Salomone on behalf of the Malta Exchange and Giorgios Koufaris on behalf of the Cyprus Exchange.

The scope of the Memorandum covers various areas of co-operation between the two exchanges, including consultation services, exchange of information, clearing and settlement issues as well as listing and mutual recognition of members.

In a brief address, Salomone referred to the excellent relations that has always existed between the two Exchanges. He particularly emphasized the strong similarities that characterise the two markets as well as the historical and geographical proximity of the two countries. The Memorandum of Understanding seeks to strengthen these existing ties and similarities by further enhancing operational and business links.

On his part Koufaris thanked the Malta Stock Exchange and said he was confident that the Memorandum will prove to be a useful instrument not only to further strengthen the level of cooperation between the two exchanges, but also to open new areas of business opportunities for the market participants both in Malta and in Cyprus.

The Minister of Finance, Economy and Investment of Malta congratulated both Exchanges on this occasion and expressed his satisfaction at the signing of the Memorandum, saying that he was confident it would serve to pave the way for the development of new business opportunities beneficial to both Exchanges.