Market Link Guide – Greece – ATHEXCSD
Key features
CSD link as defined under CSDRa | Yes |
Type of link | Indirect |
a. CSD Regulation (EU) No 909/2014, Article 2(29).
CSD | Custodian | |
Name | Hellenic Central Securities Depository (ATHEXCSD) | Citibank Europe plc, Greece branch |
FATCA GIIN | C0K19U.00001.ME.300 | NXUTG8.00192.BR.300 |
LEI | 213800T8UR2VI6Q2RH18 | N1FBEDJ5J41VKZLO2475 |
Country of incorporation | Greece | Ireland |
Account type | Omnibus | Omnibus |
Legal account name/holder | Citibank Europe plc, Greece branch, holds an individually segregated account in AthexCSD in the name of Clearstream Banking S.A. | Clearstream Banking S.A. |
Operational arrangements
Yes/No | Remarks | |
Settlement in T2S | No | |
Settlement free of payment | Yes | |
Settlement against payment | Yes | Eligible settlement currency: Euro (EUR). |
Settlement against payment in central bank money account of CBL/CBL clients | No | Against payment settlement takes place on the cash account of Citibank Europe plc, Greece branch at Bank of Greece. |
Bridge settlement | No | |
Shaping facility | No | |
Partial settlement | No | |
Hold and Release | No | Please see details in Settlement services |
Recycling | Yes | Please see details in Settlement services |
Bilateral cancellation | Yes | Please see details in Settlement services |
Settlement penalty fees | Yes | Please see details in Settlement services |
Pre-matching | Yes | Immediate release flag. |
Back-to-back processing | No | |
Allegements | Yes | |
Automatic compensation | No | |
Registered securities | Yes | Registration takes place automatically upon settlement. |
Multi Market Securities | Yes | |
Lending and borrowing | Yes | |
Proxy voting | Yes | |
Investment Funds | Yes | CSD eligible ETFs |
Liquidity Hub Connect | No | |
Sale and purchase of rights | No | |
Market restrictions | No | |
FTT | Yes | Greece: Sales Tax |
Daily reconciliation | Yes | |
Link eligible for use in Eurosystem credit operations | No | |
| Moment of entry | On-exchange transactions concluded at ATHEX securities market: defined as irrevocable from their conclusion at ATHEX regardless of the moment of entry of the respective file to AΤΗΕΧCSD. OTC transactions: defined as irrevocable from their conclusion regardless of the moment of entry of the respective settlement instructions to AΤΗΕΧCSD. | |
Irrevocability | Identical to moment of entry (see above). | |
Finality | For securities, finality takes place when the transfer of ownership takes place, for instance, when securities are debited/credited to investor accounts, within the batch, and for cash, when a cash credit/debit takes place, at the end of the batch. From an indebtedness point of view, the CSD rules refer to the “settlement moment", for example, the moment under which the settlement (credits/debits) takes place. |
Local legislation
The below section is valid on the date of the legal opinions that were issued and might be subject to change. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter. The scope of the legal opinions is limited to the local legislation applicable to the relevant CSD (and intermediary, if any). For links using an intermediary located in another jurisdiction, please find a separate Local legislation section for the jurisdiction of the intermediary below. For clients accessing local markets via other Clearstream entities, please also review the Local legislation section in the relevant Market Link Guide for such Clearstream entity.
Local legislation of the CSD/Intermediary | |
Date of legal opinion | 21 March 2025 |
Nature of rights on securities | Substantive law of the jurisdiction will govern the nature of the rights on the Securities. Rights on the Securities are rights in rem. No differences in conclusions in case of sub-accounts for Clients within the Direct CSD Account. |
Recognition of nominee concept | Nominee concept recognised under local law. |
No right of retention to the CSD under local law | CSD does not have a lien or similar encumbrances on the securities under local law. |
No upper-tier attachments | Securities would not be subject to attachment. |
No right of use without prior consent | Laws of the jurisdiction restrict CSD from using securities without Clearstream’s prior consent. |
Segregation of assets at the CSD | CSD is under legal/regulatory obligation to segregate the securities held for each participant. |
Loss of assets | No general restrictions on ability to recover lost assets or on indemnification under local law, subject to certain exceptions noted by counsel (such as force majeure, no negligence by the CSD, liability caps, sovereign immunity, etc.). |
Ability to recover client assets in the event of insolvency of CSD | Securities would be recoverable. |
Ability to recover client assets in the event of insolvency of agent | Securities would be recoverable in the event of insolvency of the Subcustodian. Claim to cash as a general creditor in case of insolvency of the Subcustodian. |
Shortfall pro-rated among holders | Shortfall in the securities would be allocated among the holders of the applicable securities pro rata to their respective ownership percentages. |
Settlement finality in case of insolvency | Transfer orders are irrevocable and finality of settlement is assured. |