As per the official website of the Cyprus Stock Exchange (http://www.cse.com.cy/en-GB/profile/), this was established as a legal entity in the form of a public corporate body under the Cyprus Securities and Stock Exchange Laws and Regulations which were passed by the House of Representatives in 1993 and 1995, respectively. The first trading session on the Cyprus Stock Exchange was held on March 29, 1996.
Currently it operates two different kinds of markets: a Regulated one and a Market in the form of Multilateral Trading Facility ( also known as ‘Emerging Companies Market’, in Greek “N.E.A.”); both of them operate under the Cyprus Securities and Stock Exchange Law and the Investment Services and Activities and Regulated Markets Law (MIFID). Among the main participants of the Stock Exchange the Members of the Stock Exchange (brokerage offices), listed issuers and investors have to be mentioned.
Furthermore, the Stock Exchange has the responsibility for the establishment and management of a Central Depository and Central Registry (CSD), where securities listed on the Cyprus Stock Exchange are to be registered in the CSD , but also unlisted securities, whose issuer wishes the maintaining of the registry by the Cyprus Stock Exchange.
N.E.A., i.e. the “Emerging Companies Market”
The E.C.M (in Greek “N.E.A.”) of the Cyprus Stock Exchange is characterized as a non-regulated market and it does not fall within the provisions compulsory for the regulated ones. The Committee of Capital Markets overviews the publishers entering this specific Market, only in terms of the publishment of an Informative Note, whenever this is necessary. The investors must be aware of the fact that they are investing in companies with a probable higher rate of risk and they are invited to study closely and evaluate the relevant dangers before going forward with any investment whatsoever.