Greece: Reminder - certification of genuine trade related transaction in BOGS eligible securities
Further to our announcement A15164, dated 7 August 2015, Clearstream Banking1 would like to remind customers of the certification requirements in relation to transfers on securities eligible in Bank of Greece System (BOGS) effecting a change of beneficial ownership.
Impact on customers
Customers must add the following statement in the narrative field (:70E::SPRO) of their settlement instructions, in order to certify that the relevant transaction is in relation to a transfer effecting a change of beneficial ownership:
“We confirm that this instruction refers to trades between different counterparties”.
Failing to provide the exact wording results in the transfers not being processed in the local market.
The certification is mandatory in order to comply with the provisions of the legislative act of the Hellenic Republic dated 18 July 2015 (Greek Government Gazette A'84), the Ministerial Decision dated 24 July 2015 (Greek Government Gazette B'1561), the Ministerial Decision dated 31 July 2015 (Greek Government Gazette B'1617), as well as all subsequent secondary regulatory framework issued for the implementation of the above legislative act.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.