Greece: OTC re-registration trades allowed daily
Effective
immediately
Hellenic Exchanges will allow OTC re-registration trades to be conducted on daily basis consequently enabling daily settlement of such trades in the Hellenic CSD. Until now OTC re-registration trades were eligible for settlement only on the last settlement date of each month.
OTC re-registration trades are defined in the market as transfer of securities of the same beneficial owner between CSD accounts and should be instructed as free of payment to the Hellenic CSD.
Impact on customers
Customers can instruct OTC re-registration trades with settlement date on any date when the Hellenic CSD is open for settlement. In order to be eligible for settlement, OTC re-registration trades must follow the T+2 settlement cycle.
The OTC re-registration trades continue to be subject to a charge of EUR 20 per side (delivering party and the receiving party). Customers are reminded that such charges incurred by CBL will be passed on to the relevant customer on an “upon receipt” basis.
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.