EuroMTS Limited is pleased to announce plans to cooperate with the Central Bank of Cyprus and the Ministry of Finance of Cyprus toward the creation of an electronic market for Cypriot government securities.
The new market, MTS Cyprus, will be launched in conjunction with reforms to Cyprus’ bond market and will provide both a primary auction facility as well as a platform for secondary trading.
“We are pleased to cooperate with MTS toward the further development of Cyprus’ government securities market,” said Mr Kyriacos Stavrou, Manager of the Public Debt Department of the Central Bank of Cyprus. “The launch of the MTS market is a significant component in a series of market reforms, which will increase the attractiveness of our government securities and lower borrowing costs through improved efficiency and liquidity.”
“In view of the accession of Cyprus in the Eurozone on the 1st January 2008, we expect that our cooperation with EuroMTS will prove to be of major importance for the efficient functioning and the integration of the Cyprus´ domestic government bond market with the European market” said Mr. Phaedon Kalozois, Alternate Director of the Division of Investments and Finance, Ministry of Finance.
“We look forward to the launch of MTS Cyprus as it represents a significant step forward in terms of efficient trading of Cypriot government bonds,” said Amaury d'Orsay, Managing Director, Head of Liquid Bond Trading, Europe, Societe Generale. “We therefore expect the introduction of this new market will allow us to continue to best meet the needs of our clients.”
“We are very interested in the Cypriot bond market and as such, are pleased MTS will launch a market for Cyprus’ government securities,” said Leonidas Frangiadakis, Group Treasurer, National Bank of Greece. “We expect this new market will facilitate increased participation in Cyprus’ bonds, whilst the MTS network will continue to provide us with improved access to other eurozone bond markets.”
MTS Group
The group of MTS companies collectively comprises Europe’s premier electronic market in fixed income securities with daily volumes exceeding €110 billion. The MTS model utilizes a common trading platform, although regulatory responsibility remains under the jurisdiction of the relevant domestic competent authorities.
The group of companies includes the following wholesale markets: EuroMTS, EuroCredit MTS, NewEuroMTS, EuroGlobalMTS, MTS Quasi-Government Market, Eurobenchmark Treasury Bills Market, EuroMTS Linkers Market, MTS Cedulas Market, MTS Amsterdam, MTS Austrian Market, MTS Belgium, MTS Denmark, MTS Deutschland, MTS España, MTS Finland, MTS France, MTS Greek Market, MTS Ireland, MTS Israel, MTS Italy, MTS Poland, MTS Portugal and MTS Slovenia.
The group also includes BondVision, the Internet-based multi-dealer-to-client platform and MTSNext, the company that manages the EuroMTS Indices, the first range of independent, transparent, real-time and tradable eurozone fixed income indices. Tradable products on the MTS markets comprise Austrian, Belgian, Brazilian, Bulgarian, Chinese, Croatian, Cypriot, Czech, Danish, Dutch, Finnish, French, German, Greek, Hungarian, Irish, Israeli, Italian, Lithuanian, Mexican, Polish, Portuguese, Romanian, Slovakian, Slovenian, South African, Spanish, Turkish and Venezuelan government bonds; quasi government bonds such as EIB, KfW, Freddie Mac and CADES; Pfandbriefe, Obligations Foncières, Cédulas, Irish ACS; Dutch, Italian, UK and US covered bonds and EONIA swaps.
More information is available on www.mtsgroup.org
