The Cyprus Stock Exchange was established as a legal entity in the form of a public corporate body under the Cyprus Securities and Stock Exchange Laws and Regulations which were passed by the House of Representatives in 1993 and 1995, respectively. The first trading session on the Cyprus Stock Exchange was held on March 29, 1996. The Stock Exchange currently operates a Regulated Market and a Market in the form of Multilateral Trading Facility ( the ‘Emerging Companies Market’), which operate under the Cyprus Securities and Stock Exchange Law and the Investment Services and Activities and Regulated Markets Law (MIFID). Main participants of the Stock Exchange are the Members of the Stock Exchange (brokerage offices), listed issuers and investors. Additionally, in accordance with the Securities and Cyprus Stock Exchange (Central Securities Depository and Central Registry) Law, the Stock Exchange has the responsibility for the establishment and management of a Central Depository and Central Registry (CSD). Securities listed on the Cyprus Stock Exchange are registered in the CSD and also unlisted securities, whose issuer wishes the maintaining of the registry by the Cyprus Stock Exchange.