GREECE: HCMC announces ban on Greece short selling

Thursday April 29 2010

The Hellenic Capital Markets Commission has taken the decision to ban Greece short selling of shares listed in the Athens Exchange with immediate effect. The ban extends to transactions on shares executed in regulated markets, MTFs and OTC transactions. It also includes the sale and subsequent intraday purchase of the shares to cover the sale. However, it does not apply to market makers on the spot equity market of the regulated market, or market makers on the derivatives market or of Exchange Traded Funds listed in the regulated market which, for hedging purposes, are short selling shares which are underlying instruments or constitute the underlying index of the derivative instruments for which they carry the market making duties.

The prohibition will remain in force until 28th June 2010. Click on the above link for more details