INTERNATIONAL: Cyprus Stock Exchange and Athens Exchange Sign MoU on Market Clearing

Thursday September 24 2015

Cyprus Stock Exchange (CSE) and Athens Exchange have signed a Memorandum of Understanding (MOU) regarding the prompt beginning of processes concerning the assumption from ATHEXClear (Athens Clearing House) – as a licensed EMIR Central Counterparty (CCP) – of CSE`s Markets clearing.

The signing of this MoU is the continuation of ten years of cooperation in the context of the Common Platform. Provided that the two Exchanges reach to an agreement, this will signifiy the next phase of the cooperation that offers to Cyprus Stock Exchange the advantage of upgrading the clearing of their Markets and Products, as well as the opportunity to attract new investors and intermediaries since their markets and products will become more internationally recognizable with regard to their status of clearing and risk management.

The said initiative is expected to create significant economies of scale for the markets and participants and reduce their cost of adjustment to the new competitive environment of the European Union.

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