According to a report in the local media, the Cyprus Stock Exchange is seeking new global indices on which to list after being turned down by the FTSE Emerging Markets Index.
Stock exchange officials told the Financial Mirror that the CSE has contacted Dow Jones and a number of other European-based bourses, including in Spain and Italy, in a bid to gain a listing on a major global index.
According to the report, the CSE failed to meet a number of the criteria required by the FTSE index.
Shortcomings cited by the Financial Mirror included certain corporate governance failings, the absence of stock lending and short sales on the exchange, and the lack of a derivatives market.
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