The Cyprus Stock Exchange announced that on the 20 August 2001 a meeting took place at the CSE in Nicosia between the stock exchanges of Tel Aviv, Athens and Cyprus as well as the FTSE Global Index Group. The participants examined the possibility of a regional cooperation with the aim of attracting investors to the south-eastern region of the Mediterranean. In particular, the possibility of creation of regional indices was discussed, based on shares of the three stock exchanges, which could be used for the purchase of securities and derivatives, for mutual funds and other funds which invest in stock exchange indices.

The three stock exchanges and the FTSE decided to invite other stock exchanges from the region to participate within this framework of cooperation.