This Cyprus Stock Exchange (CSE) in the Greek side of Cyprus
is one
of the newest stock exchanges in the world. It started trading only in
1996 and
was publicly incorporated in March of that year. The CSE comes under
the aegis
and rule of the Cyprus
stock exchange law’s and regulations passed sometime in 1993-95 by the
Cypriot
house of representatives. The exchange is under the supervision of the
state
and is governed by the council of the CSE. Some of its stated
objectives as
listed on the website are to provide a vehicle for public companies in
order to
raise the capital required to finance their development plans.
The
exchange also aims to promote investment in securities- presumably to
boost
local markets, to infuse new capital by providing liquidity and
"depth" in the capital market in Cyprus in which it has
succeeded to
a certain extent. One of its greater aims and a poignant point for the
Cypriot
economy is that the stock exchange is actively engaged in attracting
foreign
investors through the use of the appropriate promotional campaigns.
If
you own a business, you might have received communication and
promotions from
the CSE. The exchange also aim’s to create a flexible, competitive and
advanced
stock exchange, based on robust accountability and transparency
concerning
transactions- the implications of this wording have yet to be seen.
The
CSE also plans to upgrade both the quality and the quantity of services
available to the investors and all those participating in the CSE,
through the
use of state of the art technology. This is where it has come out a
winner. The
implementation of technology has already boosted the CSE as a good
place to do
business in the world. The exchange is very actively trying to promote
the
listing of titles issued both by local and foreign companies on the
CSE.
Perhaps
it’s the little Greek flavor of the exchange that sets it going in the
right
direction. In short it is a dynamic little bourse just starting out on
its
financial journey; the CSE publishes two cross section indices for
those
interested in following its progress.
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