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Market Passport

Market information

Supporting you

Key market information

  • Local currency

    Euro
    (EUR)

  • 2017 GDP

    USD
    21bn

  • Time zone

    GMT
    +2 hours

  • Numbering
    system

    ISIN

  • Main stock
    exchange index

    CSE general index

Key market figures

Market capitalisation USD 3bn
Number of listed companies 74
2017 value of share trading USD 0.17bn
Number of ETFs listed n/a
2017 value of bonds trading USD 0.01bn
Number of bonds listed 60
Number of futures contracts traded in 2017 n/a
Number of options contracts traded in 2017 n/a

Local market infrastructures

  Equities Corporate bonds Government bonds
Trading CSE CSE CSE
Clearing CSE CSE CSE
Settlement and custody CDCR CDCR CDCR
Cash leg Central Bank TARGET2 Central Bank TARGET2 Central Bank TARGET2

Local market authorities and regulators

  • The Central Bank of Cyprus supervises and controls all banking entities in the country
  • The Cyprus Securities and Exchanges Commission supervises the exchange, issuers of listed securities, investment firms, brokers and mutual funds

Market practices (ALL TIMES ARE LOCAL)

SECURITIES
Settlement cycles
Equities T+2
Bonds T+2
Cash T+0
Cut-off times
Equities OTC 2.00pm
On exchange 1.00pm
Bonds 1.00pm
Cash 6.00pm
 
Omnibus account/securities Yes
Omnibus account/cash Yes
Pre-matching Yes
Irrevocable pre-matching No
Short selling No
Cash settlement/DVP Yes
Securities lending Yes
Foreign ownership limits Yes
Tolerance limits

n/a.

Examples of market penalties

n/a.

Buy-in practice

Strict buy-in practice on T+2.

If the trade is not covered at settlement date, there is a second buy-in window on T+3 between 10.15am-10.30am (spot2 process).

BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.

Supporting you

BNP Paribas Securities Services in Cyprus

We are a key market player in Cyprus and the only foreign agent bank to continue offering services during the financial crisis.

Our main services

Core

We offer local custody to domestic and foreign institutions. Our core services include settlement, safekeeping, corporate actions, proxy services, cash and collateral management.

Market-specific

  • Full segregation of securities and cash settlement in TARGET2 via Banque de France
  • Market operated from our regional hub in Greece

What makes us different

  • Commitment to the common trading and settlement platform between Greece and Cyprus, evidenced by its successful and seamless implementation
  • Member of the most important industry bodies, representing the position of non-resident financial institutions
  • Proven track record in supporting our clients on major market changes and events

Selected market recognition

Global Investor Investment Excellence Awards (2018): Sub-Custody Survey Winner Multi-market EMEA for Cyprus

A sound partner

We have been committed to the Cypriot market since 2006 and continued servicing clients during the capital controls crisis. Throughout these years, we have always been at the forefront of major market developments and enjoy excellent relations with Greek and Cypriot market authorities.

Contact

For more information, please contact your relationship manager or
Kelly Kakanaki, Head of Location
kelly.kakanaki@bnpparibas.com

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