“The Athens Stock Exchange assured the Cyprus Stock Exchange on Monday that the problems in the operation of the ODL service used by the Members have been solved and the function of the system has been restored”, CSE General Manager, Nontas Metaxas told StockWatch. Mr. Metaxas said that the stock exchange carried out a mock session on Saturday, which was not problematic.

Due to the malfunction on Friday, the CSE members could proceed to on-line orders via the electronic transaction system only (via ORAMA/ETW of OASIS system). This pushed the trading volume down to €3.1 million, due to the low number of orders (542).

According to stockbrokers, 90% of the brokerages avoided using the ORAMA system. ‘With ORAMA, we cannot be aware of either the investor’s account, or the shares that he/she holds or even if he/she has any money at all”, they said.