Cyprus Stock Exchange: Compliance With The Provisions Of The European Code Of Conduct For Clearing And Settlement

The Cyprus Stock Exchange (CSE), represented by the European Central Securities Depositories Association (ECSDA) of which is a member, the European Association of Central Counterparty Clearing Houses (EACH) and the Federation of European Securities Exchanges (FESE) agreed on 7 November 2006 on a European Code of Conduct for Clearing and Settlement (the ‘Code of Conduct’).

Part V of the Code of Conduct refers to Service Unbundling and Accounting Separation. Service unbundling increases customers’ choice and gives flexibility to customers when choosing which service to purchase by helping them to understand and compare prices and services. Accounting Separation provides relevant information concerning the services provided.

For the year 2015, the CSE complies with Part V of the Code and specifically with Article 39 (Principles), 40 (Unbundling), 42 and 43 (disclosing costs and revenues for each service separately).