Swiss Six and CSE announce the 'Go live' dual listing of Cyprus EMTN

The Ministry of Finance, the  Swiss depository, SIX, and the Cyprus Stock Exchange have announced the 'Go Live' of the dual- listing of the EMTN of the Republic of Cyprus at the Cyprus Stock Exchange. The first Trading Day in the EMTN officially commenced on 27 March.

According to a Ministry of Finance press release, SIX has developed a post-trade solution that empowers the Cyprus Stock Exchange in its function as Central Securities Depository to provide safekeeping, settlement and asset servicing for the Euro Medium Term Notes of the Republic of Cyprus. 

“This partnership will enhance liquidity for the Republic of Cyprus’ funding vehicles, accelerate growth of the Cypriot capital markets and capture long -term joint value for both Cyprus Stock Exchange and SIX,” the release added.

Commenting, Finance Minister Makis Keravnos said 'Go Live' of the dual-listing of the EMTN of the Republic of Cyprus at the Cyprus Stock Exchange reaffirms the Cypriot government’s determination to facilitate access for Cypriot investors to invest and trade in the Republic’s international bond issuances thus expanding the investor base and enhancing liquidity for the Republic’s funding vehicles.

On his part, Marcus Harreus, CEO. SIX SIS commented that “we are delighted to announce together with the Ministry of Finance and the Cyprus Stock Exchange the 'Go Live' of a significant infrastructure project, the dual- listing of the EMTN of the Republic of Cyprus at the Cyprus Stock Exchange.

“Given SIX’s strong position in the global post-trade value chain,  its global footprint and expertise, scale,  multiplicity of connectivity patterns, enhanced servicing model and innovative solutions, we trust that the partnership will increase Cyprus Stock Exchange’s functionality, efficiencies and investor access,” he added.

Marinos Christodoulides, Chairman of the Board of the Cyprus Stock Exchange welcomed the 'Go Live' of the dual-listing of the Republic’s international bond issuances at the Cyprus Stock Exchange in collaboration with SIX.

“This is an important first step of our strategy towards an optimal reshaping to achieve scale and business expansion by establishing new business streams in order to diversify and enrich Cyprus Stock Exchange’s business model,” he went on to say.

(Source: CNA)