Sophic secures over 80 per cent of Cyprus Treasury Bills for clients

Cypriot investment platform Sophic, which is provided by Athlos Capital, has secured over 80 per cent of the latest issuance of Treasury Bills by the Republic of Cyprus for its clients, according to an announcement released on Tuesday.

This follows a successful auction of the quarterly Treasury Bills held on Monday, June 17, 2024, where a total of €21.5 million was issued.

These Treasury Bills offer an annualised yield of 3.74 per cent and are available to both individual investors and businesses through Sophic.

Commenting on the development, Ioannis Petri, CEO of Athlos Capital, said that “the yields offered by the Treasury Bills of Cyprus and other European countries are particularly attractive for non-professional investors and businesses seeking optimal ways to manage their liquidity in an environment of persistently low deposit rates”.

“As with previous issuances, the majority of the Cypriot Treasury Bills have already been allocated to our clients, while the remaining amount is expected to be exhausted through transactions by Sophic in the coming days,” he added.

Moreover, the announcement explained that Sophic is designed to enhance liquidity management for its clients, by allowing investors to select Treasury Bills that align with their financial goals and achieve greater diversification by investing in different Treasury Bills, thereby reducing risk.

In addition, the platform offers access to high credit-rated Treasury Bills issued by the European Union, France, and Germany, with yields currently exceeding 3.3 per cent annually.

“Sophic is a service provided by Athlos Capital, which is regulated by the Cyprus Securities and Exchange Commission and authorised to offer cross-border services throughout the European Union,” the announcement noted.

“Athlos Capital, an independent investment firm, is regulated by the Cyprus Securities and Exchange Commission (licence number 348/17),” it added.

“The firm is well-known in the investment community for providing, among other services, transactions in financial instruments, specialised access to bond markets, and custodial and portfolio management services,” the announcement concluded.