Cyprus

1 Country overview

MTS facilitates a dedicated market for the electronic trading of Cypriot government bonds.

2 Instruments

Euro denominated international debt securities issued by the Cypriot government, are traded in the MTS Cyprus market.

The securities are divided into 4 different maturity buckets:

A (0 - 2y)

B (2y - 5y)

C (5 - 10y)

D (over 10y).

For a full list of available instruments, click here.

2.1 Minimum lots

Proposals must be formulated for a minimum quantity equal to EUR 1 million.

Orders may be submitted for the following quantities:

EUR 1 million and multiples for auto-matching, with increments of EUR 0.5 million.

3 Participants

For a list of participants, click here.

4 Market Hours

Cash Market Hours (CET/CEST)

Pre-Market: 8:15am – 8:45am

Offer Market: 8:45am – 9:00am

Trading Hours: 9:00am – 5:00pm

Market Closed: 5:00pm - 8:15am

5 Settlement

Trades on Cypriot Government bonds settle at Euroclear Bank and Clearstream Banking Luxemburg. MTS sends Swift settlement instructions on behalf of both participants to the relevant ICSD. MTS participants must hold a securities account at one of the two ICSDs either directly or indirectly through a custodian.

The settlement cycle is T+2. The settlement calendar follows the TARGET calendar skipping value date only on TARGET non-business days.