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Saturday, March 2, 2024

The supplementary budget of the CSE was approved by the Parliament

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The Plenary approved with 41 votes in favor, 2 against and 3 abstentions the payment from the CSE fund of additional credits, amounting to €242,397

Εγκρiθηκε απo τη &Beta ;ουλor ο συμπληρωματικoς προDπολ ογισμoς του ΧΑΚ

The need to complete the work for the privatization of the Cyprus Stock Exchange (CSE) was emphasized by the Chair of the Finance Committee and DIKO Member of Parliament Christiana Erotokritou, on the occasion of the approval of the CSE's supplementary budget by the Plenary of the Parliament.

Ms. Erotokritou reminded that the completion of the privatization is expected so that the CSE will take a more modern form to cope with today's economic conditions. He noted that this has been announced for several years and the relevant bill is still pending.

The Plenary approved with 41 votes in favor, 2 against and 3 abstentions the payment from the CSE fund of additional credits, amounting to €242,397, to cover increased expenses for purposes for which the provision in the 2023 budget is insufficient.

In particular, the increased costs relate to the creation of five new positions and corresponding additional appropriations relating to payroll and the increased amount of the price index required from 1 June 2023 amounting to €99,704.

They also concern the completion of the upgrade of the notification submission system by listed companies/market participants (Central Storage Mechanism) within 2023 amounting to €27,623.

Also included is the purchase of IT services for the maintenance and further development/modification of existing software systems of the organization in the amount of €60,000.

The participation of the CSE in the “Consolidated Tape Joint Venture” (CTJV) is also foreseen, under form of a separate corporate entity, in which twenty-six European stock exchanges have expressed an interest to participate, coordinated by the European Stock Exchange Federation of €55,070.

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Source: www.kathimerini.com.cy

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