Market Link Guide – Greece – ATHEXCSD

21.07.2025

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.