articles | 13 January 2016

CSE joins Federation of Euro-Asian Exchanges

Chairman of the Cyprus Stock Exchange (CSE), Marios Pilavakis, announced that the CSE became a full member of the Federation of Euro-Asian Exchanges following a unanimous decision of the Federation members.

“After many years of efforts we have managed to join the Federation”, Pilavakis said, noting that this became reality in November 2015 when the presidency of the Federation was held by Egypt, while in previous years the presidency was held by Turkey, which does not recognise the Republic of Cyprus.

Members of the Federation, which is based in Istanbul, are stock exchanges from the Middle East, South-eastern Europe and Asia.

The CSE, he said, being a stock exchange of an EU member state, can play an important role as a bridge between those countries and the EU.

He added that the CSE has signed Memoranda of Understanding with many stock exchanges which are members of the Federation.

He also spoke about the CSE’s role in government efforts to attract investments to Cyprus.

“The CSE constitutes a very important pillar in our bid to attract investments to Cyprus. As a result, our efforts focus on the full connectivity of our Stock Exchange with the economic development of the country”, he said.

Pilavakis pointed out that the CSE’s initiatives aim to gradually overcome the problems of low liquidity and bureaucracy. In addition, it aims at the introduction of new technology, the safeguarding of competitiveness and the implementation of an attractive payment policy.

Source: InCyprus

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