The Cyprus Stock Exchange (CSE) and the Athens Stock Exchange (ASE) will shortly begin the testing of a new common trading platform, according to a Cypriot media report.
The Financial Mirror revealed in a report published on Wednesday that the CSE is due to begin testing the system for a period of one month starting on May 22, during which time members from both the ASE and the CSE will undertake mock transactions designed to iron out any technical difficulties which may arise.
Once testing is complete, exchange officials will then be in a position to gauge when trading on the common platform can begin in earnest, which could possibly happen later in the summer.
The common platform has come to fruition after officials from both bourses met last September and signed a cooperation agreement.
Hellenic Exchanges does not expect significant additional revenues from the cooperation, although it is thought that there could be a cost benefit to investors due to a reduction in IT-related expenses.
CSE Chairman Akis Kleanthous also told the Financial Mirror that the Cypriot SEC has relaxed certain regulatory restrictions, which will allow any CSE member firm to apply to join the ASE.
At the end of 2005, the total number of listed companies on the Cyprus Stock Exchange was 144. At year-end, the equity market capitalisation (excluding the Investment Companies Market), amounted to CYP3.2 billion (EUR5.58 billion), up from CYP2.0 billion at the end of 2004.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment