Angeliki Frangou – GC Powerlist
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Greece and Cyprus 2026

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Angeliki Frangou

Head of Legal Services and Head of the Central Depository and Registry | Cyprus Stock Exchange (CSE)

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Greece and Cyprus 2026

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Angeliki Frangou

Head of Legal Services and Head of the Central Depository and Registry | Cyprus Stock Exchange (CSE)

I studied Law at the University of Bristol (LLB) and King’s College London (LLM in Corporate and Commercial Law), and was admitted to the Cyprus Bar Association after achieving the highest marks in my year.

I began my legal career at the law firm Andreas S. Angelides LLC, where I practised for a short period, primarily in the fields of Administrative and Constitutional Law. I subsequently joined the Cyprus Stock Exchange as its first Legal Officer. My responsibilities included the general legal duties of an in-house lawyer within such an organisation, including drafting rules and regulations, providing legal guidance on Cyprus Stock Exchange and related legislation, examining instances of regulatory violations, and handling legal proceedings on behalf of the Exchange. In addition, I undertook the responsibilities of Secretary to the Board of Directors (Council) of the Stock Exchange.

In 2011, I was appointed Head of the Central Securities Depository (CSD) of the Stock Exchange, while continuing to oversee the Legal Division of the Exchange. The CSD is responsible for all post-trade activities of the Exchange and undertakes the core functions of a Central Securities Depository, including recording securities in book-entry form, maintaining securities accounts, operating a securities settlement system, and providing registry and other services to issuers.

Throughout my career, I have been involved in a number of significant regulatory and structural reforms affecting the Cyprus capital market. In 2004, I was a member of the expert committee responsible for reforming the Stock Exchange legislation in line with European Union Directives concerning the listing of securities on an organised market, as well as the market practices of other securities exchanges. I was subsequently involved in the “unbundling” of settlement and clearing services in 2014 and in ensuring the compliance of the Cyprus Stock Exchange with MiFID legislation.

More recently, a major achievement was leading the extensive regulatory, operational and systemic changes required to ensure the compliance of the CSD with the relevant EU Regulation on Central Securities Depositories (Regulation (EU) No. 909/2014, known as the CSD Regulation), as well as ensuring the eligibility of the Central Securities Depository for use in Eurosystem credit operations.

I have also overseen the establishment of CSD links between the Cyprus CSD and major international depositories, including Clearstream Banking S.A. Luxembourg, SIX SIS of Switzerland, and ATHEX (now Euronext Athens) CSD.

Following an agreement with the Cyprus Transmission System Operator (CTSO), the Cyprus Stock Exchange was designated as the CTSO’s Clearing Agent. Since 2025, the CSD of the Cyprus Stock Exchange has provided both cash settlement services for transactions arising from clearing processes in the Competitive Electricity Market of Cyprus and risk management services.

Currently, I am also involved in the transition of the settlement cycle to a T+1 basis. However, at present, the most significant project in which I am involved, as a member of the Implementation Committee, is the privatisation of the Cyprus Stock Exchange, as decided by the Council of Ministers of the Republic of Cyprus.

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