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ATHEX Group and CSE announced cooperation over CSE compliance with CSDR

03/02/2022 10:29

Athens Exchange Group (ATHEXGroup) and Cyprus Stock Exchange (CSE) announced their successful project cooperation that has resulted in the compliance of Cyprus Stock Exchange (CSE) under the Settlement Discipline Regulation as of February 1st 2022 and the CSDR compatible infrastructure for full support of Investor CSD services.

According to a press release issued by the CSE, Athens Exchange Group has worked along with Cyprus Stock Exchange to upgrade the offered Clearing, Settlement and Registry platform that both entities are using as part of the Common Platform and has also contributed with its know-how regarding compliance and operational issues arising from the new EU Regulation.

Apart from its role as an Issuer CSD, Cyprus Stock Exchange can now leverage its services via the Investor CSD supported module for settlement, safekeeping, and asset servicing for dual listed and foreign securities. The support of the dual listed EMTN notes is a tangible first step, the release added.

Socrates Lazaridis, CEO of Athens Exchange Group commented, “our long-lasting co-operation with Cyprus Stock Exchange which has resulted in the Common Platform operation since 2006 continues to provide new win-win opportunities for our Partner and ATHEX CSD.”
“We are glad that we have successfully provided the technical infrastructure and closely co-operated over 2021 to facilitate our Partner in complying with SDR and launching its Investor CSD services to allow links for better servicing the Cypriot capital market,” he added.

On his part, Marinos Christodoulides, Chairman of the Board of the Cyprus Stock Exchange said that “our co-operation with Athens Exchange Group since 2006 has proved to be very productive and fruitful.
“Athens Exchange Group and Cyprus Stock Exchange have exchanged experiences throughout the years and joined forces to adapt to the new legal and regulatory framework, while enjoying economies of scale and synergies,” he said adding that “Athens Exchange Group’s expertise and technical infrastructure services have been invaluable to the Cyprus Stock Exchange in enhancing the services it already provides but also in expanding to new areas and services.”