CySEC undertakes initiative to revitalise the Cyprus Stock Exchange

The Cyprus Securities and Exchange Commission (CySEC) has launched an initiative to strengthen the Cyprus Stock Exchange (CSE) with the aim of restoring its role as a driver of economic development in Cyprus.

Recently, a roundtable discussion was held at CySEC’s offices with the topic 'Strengthening the Cyprus Stock Exchange.' During the discussion, various stakeholders presented and discussed proposals for revitalising investor interest and attracting new companies and other investment products to list on the CSE. Among the proposals presented were the inclusion of titles from start-up companies, which could attract the interest of investors seeking dynamic and innovative markets.

Additionally, the introduction of government bonds or bonds from semi-governmental organisations or other local authorities was suggested. Proposals were also made to provide incentives for companies to list on the stock exchange, such as tax reductions, aimed at enhancing liquidity and diversifying the tradeable securities on the CSE.

Other suggestions included boosting financial literacy and investor education to better understand the functions of the stock exchange and investment strategies.

The need for technological upgrades and improvements to the CSE's infrastructure was also discussed, as well as cooperation with other international markets to make the Cyprus Stock Exchange more attractive to global investors. Another key measure for revitalising the CSE was the organisation of marketing campaigns and events in collaboration with international financial organisations to promote the stock exchange and investment opportunities in Cyprus.

CySEC’s Chairman, Dr George Theocharides, stated, "A healthy stock exchange helps listed companies raise capital for their development. Especially in a small economy like Cyprus, it is crucial because it strengthens liquidity and creates opportunities for establishing new businesses, in addition to supporting the existing ones. A healthy CSE can also play a role in the internationalisation of Cypriot businesses by attracting foreign investors and opening new markets for them."

CSE Chairman, Marinos Christodoulides, said: "I would like to thank CySEC for this important initiative. Collaboration with all the involved parties is crucial for the successful implementation of the proposals submitted. We had a constructive and substantive discussion regarding all the proposals which will be carefully examined. It is important to strengthen the position of the CSE as a reliable and internationally recognised institution, which will offer more opportunities for the development of both new and existing businesses, while also attracting foreign investors and contributing to the increase of liquidity in the Cypriot economy."

The meeting was also attended by officials, senior or top executives from CySEC, the Ministry of Finance, the CSE, the Fiscal Council, the Cyprus Public Audit Oversight Board, CIPA, SYDEK, CIFA, ICPAC and CFSFA.