The new market, MTS Cyprus, will be launched in conjunction with reforms to Cyprusâ bond market and will provide both a primary auction facility as well as a platform for secondary trading.
âWe are pleased to cooperate with MTS toward the further development of Cyprusâ government securities market,â said Mr Kyriacos Stavrou, Manager of the Public Debt Department of the Central Bank of Cyprus. âThe 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.â
âIn 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 CyprusÂ´ domestic government bond market with the European marketâ said Mr. Phaedon Kalozois, Alternate Director of the Division of Investments and Finance, Ministry of Finance.
âWe look forward to the launch of MTS Cyprus as it represents a significant step forward in terms of efficient trading of Cypriot government bonds,â said Amaury d'Orsay, Managing Director, Head of Liquid Bond Trading, Europe, Societe Generale. âWe therefore expect the introduction of this new market will allow us to continue to best meet the needs of our clients.â
âWe are very interested in the Cypriot bond market and as such, are pleased MTS will launch a market for Cyprusâ government securities,â said Leonidas Frangiadakis, Group Treasurer, National Bank of Greece. âWe expect this new market will facilitate increased participation in Cyprusâ bonds, whilst the MTS network will continue to provide us with improved access to other eurozone bond markets.â
MTS Cyprus will represent the 16th domestic MTS market.