Greece: Change of local holidays and impact on settlement instructions
The Greek Ministry of Labour has declared that the bank holiday of 1 May 2013 is to be transferred to 7 May 2013.
In their respective announcements, Hellenic Exchanges (HELEX), the CSD for Greek equities and corporate bonds, and the Bank of Greece, operator of the settlement system for Greek government debt securities, have advised of the relevant dates on which trading and settlement will be available as follows:
| Securities eligible in... | 1 May 2013 | 7 May 2013 |
| HELEX | No trading or settlement | No trading or settlement |
| -- | -- | -- |
| Bank of Greece | OTC FOP settlement possible No CCBM transaction settlement | No OTC FOP settlement CCBM transaction settlement possible |
Impact on instructions
On the above dates, the processing of valid settlement instructions will be adapted as follows:
- HELEX-eligible securities (equities and corporate bonds) 1 and 7 May 2013 are closed for both free of payment (FOP) and delivery against payment (DVP) instructions.
- Securities eligible in the Bank of Greece system:
- 1 May 2013 is open for free of payment (FOP) instructions.
Any CCBM transactions received for value 1 May 2013 will be automatically transferred for settlement on the next settlement date (SD). - 7 May 2013 is closed for both FOP and delivery against payment (DVP) instructions.
Any instructions received for value 7 May 2013 will be automatically transferred for settlement on the next SD.
- 1 May 2013 is open for free of payment (FOP) instructions.
We remind customers that both 3 and 6 May 2013 are public holidays in Greece. Full details of the cash and securities holidays are available on our website under Information Centre / Market Reference / Reference Data / Processing Times.
Further information
For further information, customers may contact Clearstream Banking1 Customer Service 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 the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).
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