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Cyprus EMTNs Now Dual-Listed on Local Stock Exchange

A New Era for Cyprus Capital Markets: Dual-Listing of EMTN Goes Live

In a significant development for the Cypriot capital markets, the Finance Ministry, SIX, and the Cyprus Stock Exchange (CSE) have jointly announced the successful commencement of dual-listing for the Euro Medium Term Notes (EMTN) of the Republic of Cyprus. The first trading day on March 27, 2024, marks a milestone in the financial landscape of the country.

The collaboration has resulted in a post-trade solution by SIX that bolsters the Cyprus Stock Exchange’s position as the Central Securities Depository. This role is crucial as it encompasses the safekeeping, settlement, and asset servicing of the EMTN. The partnership is expected to enhance liquidity and accelerate the growth of the Cypriot capital markets while capturing long-term value for both entities involved.

Fuelled by this initiative, Finance Minister Makis Keravnos emphasized the government’s commitment to broadening investment opportunities for Cypriot investors and enhancing liquidity. He pointed out that this move is not only about expanding the investor base but also about improving public debt management effectiveness.

From SIX’s perspective, Managing Director Marcus Harreus expressed delight in the project’s launch, highlighting the strengthened regional presence and visibility it brings to SIX. With their global expertise and innovative solutions, SIX anticipates increased functionality, efficiencies, and investor access for the CSE.

Marinos Christodoulides, Chairman of the Board of the Cyprus Stock Exchange, hailed this initiative as a strategic step towards achieving scale and business expansion. The establishment of an Investor CSD infrastructure is seen as a pivotal moment in their strategy to serve both domestic and international financial assets more effectively.

As the Cypriot capital markets undergo transformation, this partnership with SIX is viewed as a testament to the CSE’s commitment to enhancing market liquidity and infrastructure solidity. Christodoulides sees the collaboration as laying a solid foundation for the CSE’s development into a significant regional hub, leveraging SIX’s global reach and innovation prowess.

Overall, this dual-listing activation is not just a technical go-live but a strategic leap forward for Cyprus’s financial ecosystem, promising a future of growth, innovation, and strengthened market confidence.

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Cyprus EMTNs Now Dual-Listed on Local Stock Exchange

A New Era for Cyprus Capital Markets: Dual-Listing of EMTN Goes Live