Market practices in Cyprus

Cyprus
Name of National Central Bank Central Bank of Cyprus
Phone number of the CCBM unit + 35 72 27 14 319 / + 35 72 27 14 247
Fax number of the CCBM unit + 35 72 23 78 76 3/ + 35 72 23 7863 3
email demetrahadjimichael@centralbank.cy
mopis@centralbank.cy
mariatengeri@centralbank.cy
target2@centralbank.cy
Foreign counterparties’ contact for credit claim related issues mopis@centralbank.cy
demetrahadjimichael@centralbank.cy
Publications describing local legal and operational procedures CCBM Brochure – The Implementation of the Eurosystem Monetary Policy Framework Directives of 2015 to 2018 (at www.centralbank.cy)

Legal and Procedural Aspects
Procedural aspects governing a repurchase agreement with the NCB and legal documentation used (if applicable) Not applicable
Procedural aspects governing a pledge towards NCB and legal documentation used (if applicable) Framework Agreement which includes a deed of pledge.
The Implementation of the Eurosystem Monetary Policy Framework Directive of 2015 (as subsequently amended).
Specific procedures governing non-marketable assets Terms and Conditions (to be provided)

Technical Aspects Central Depository and Central Registry of Securities (CDCR) of the Cyprus Stock Exchange (CSE) Central Bank of Cyprus
Type of eligible assets held Government Securities Non-marketable assets (credit claims)
Opening hours 07:00-16:00 CET 07:00-16:00 CET
Number of settlement cycles per day: CCBM transactions are settled on a real time FOP basis No settlement cycle; transactions can be forwarded to the CBC during business hours.
BIC of SSS(s): XCYSCY2N CBCYCY2NCCB
Account of NCB in the SSS : One NCB account per HCB n.a
HCB's sub accounts in the SSS (where applicable) AT:2004768886; BE:2004768867; DE:2004768870; DK:2004768869; EE:2004779041; ES:2004768873; EU:2004768896; FI:2004768892; FR:2004768874; GR:2004768872; IE:2004768881; IT:2004768882; LU:2004768883; LV: 2004788380; MT:2004768884; NL:2004768885; PT:2004768888; SE:2004768893; SI:2004768894; SK:2004771783 UK:2004768895. AT:CC2004768886; BE:CC2004768867; DE:CC2004768870; DK:CC2004768869; EE:CC2004779041; ES:CC2004768873; EU:CC2004768896; FI:CC2004768892; FR:CC2004768874; GR:CC2004768872; IE:CC2004768881; IT:CC2004768882; LU:CC2004768883; LV: CC2004788380; MT:CC2004768884; NL:CC2004768885; PT:CC2004768888; SE:CC2004768893; SI:CC2004768894; SK:CC2004771783, UK:CC2004768895.
Matching requirements No matching required for FOP transactions within the CDCR. Matching is performed within the Central Bank of Cyprus. n.a.
Matching/Settlement details
  • ISIN code of the asset
  • Settlement date
  • Status of sender (Deliverer or Receiver)
  • Amount of the asset
  • Counterparty BIC
n.a.
Special Operating Procedures The settlement of CCBM operations is performed on a FOP basis. General Terms and Conditions of the CBC (to be provided). For detailed clarification of the necessary procedures, counterparties are strongly recommended to contact the CBC prior to the forwarding of instructions.
Homepage of SSS www.cse.com.cy www.centralbank.cy