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The CSE Legislation for persons wishing to enrol as Nominated Advisors in ECM
19.10.2015

On 15 October 2015, associates Angelos Exadactylos and Pavlos Mundis attended a training seminar organised by the Cyprus Stock Exchange and entitled “The CSE Legislation for persons wishing to enrol as Nominated Advisors in ECM”.

The main objective of the seminar was to provide an introduction of the Emerging Companies Market, which is a parallel non-regulated market with the central aim to ease the listing procedures of public Companies, including those with innovative activities (for example, renewable energy, development of hydrocarbons, medical, touristic projects etc.).

The key characteristic of such a market is that it is a multilateral trading facility, which introduces simple, low cost and quick listing procedures of public companies. The ECM is also less-stringent and more flexible than the regulated market of the Cyprus Stock Exchange. Currently, a considerable number of companies are listed on this market.

In order for a Company to be listed on the ECM, it must obtain and maintain the services of a Nominated Advisor (“NOMAD”). The NOMAD can be a Credit Institution or a Cypriot Investment Firm, Law Firm, Audit Firm or Administrative Service Provider. The NOMAD must also employ two persons that will execute the Nominated Advisor's duties.

The seminar also introduced a short guide related to the duties of the NOMADs, with regard to the listing and maintenance of a company on the ECM, as well as explaining the function and services that the CSE provides.   

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