Athens-Cyprus Stock Exchange Trading Platform Precursor To Wider Regional Trading Alliance

After two years of development, on 30 October the Athens Exchange and the Cyprus Stock Exchange have launched a Common Trading Platform, with seven Cypriot and nine Greek brokers trading on the platform on the first day. The Common Platform

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After two years of development, on 30 October the Athens Exchange and the Cyprus Stock Exchange have launched a Common Trading Platform, with seven Cypriot and nine Greek brokers trading on the platform on the first day.

The Common Platform is designed to allow investors to change and access both markets in a modern and post-trading environment, said Spyros Capralos, chairman of the Athens Exchange, at a presentation in London.

All trades will be done in Euros, except for Cyprus government bonds, which will be carried out in the Cyprus pound.

Calling it a “win, win situation,” Capralos says the platform will increase access to domestic and international liquidity and allow better market transparency, while decreasing transaction and operational costs.

“We are absolutely satisfied about meeting our strategic targets, including the complete restructuring of the Stock Exchange in Cyprus,” said Akis Cleanthous, chairman of the Cyprus Stock Exchange. “Through the Common Platform and the new regulations that come with it, the CSE is facilitated in its effort towards continuous modernisation and alignment with the developed markets, and primarily the exploitation of opportunities and synergies together with the Athens Exchange which appear at a wider regional level.”

Onces the platform is completed and is demonstrably successful, the two exchanges will begin talking to their neighbours in the Balkans and the Middle East, adds Cleanthous.

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