The FTSE/CySE 20 will be calculated in real time and is designed to support index tracking and derivatives trading products. It will consist of the largest 20 stocks in Cyprus and capture over 80% of the available market capitalisation in the country.
FTSE and CySE have collaborated on this project to prepare a transparent and rules-driven index, which will be recognised by the international investment community. The index has been designed by FTSE, and will be calculated by CySE. Reviews will take place twice a year in line with established FTSE Ground Rules.
Nondas Cl. Metaxas, Director General and CEO of CySE said: “CySE considers the launching of this index, as a very important step towards its effort of promoting CySE and attracting foreign investments to Cyprus. CySE plans to promote and present the index through a series of international roadshows, beginning in early 2001.
Mark Makepeace, FTSE CEO said: “FTSE is committed to meeting market demand for indices and is proud to have been invited to collaborate with CySE on this project. The FTSE/CySE 20 will provide overseas and domestic investors with an internationally recognised benchmark for investment in Cypriot companies.
