Follow Cyprus Investment Immigration and Cyprus Economy news: The Cyprus Securities and Exchange Commission (CySEC) issued a notice on Tuesday (March 3) signed by its Chairwoman, Demetra Kalogerou. The notice states that companies operating in Cyprus may use market data to provide investment services and may provide market data to their clients, provided they obtain permission from the data owner and sign an agreement with said data owner.
For example, regarding Euronext, the use of its market data requires authorization from Euronext and the signing of an agreement with them for:
i. Using Euronext trademarks (though authorization is still required to change the names of financial derivative instruments).
ii. Publishing market data to clients (e.g., creating and publishing information products containing the following data: AEX, BEL20, CAC40, and PSI20 index/option/futures prices).
iii. Providing clients with binary options, contracts for difference (CFDs), or any other financial derivative instruments listed on the Euronext stock list, such as AXA, Alcatel-Lucent, Total, and/or Vivendi.
iv. Market data refers to prices and data related to financial instrument trading published by exchanges, such as stock exchanges.
v. The publication and dissemination of real-time and/or delayed market data.
The above terms do not consider the frequency of market data publication and dissemination; all the above terms are conditional upon the agreement signed with Euronext (e.g., only when binary options expire).
Companies investing in Cyprus are required to evaluate the process of market data usage to ensure that all necessary terms are implemented (e.g., obtaining authorization from the market data owner or whether an agreement has been signed with them).
