GREECE: HCMC partially lifts Greek short selling ban

Monday August 3 2015

The Hellenic Capital Market Commission (HCMC) during its Board of Directors’ meeting on 3 August 2015 decided the following:

The prohibition of transactions in any financial instrument which would create or increase a short position as well as the prohibition of short sales of the shares admitted to trading on the Athens Exchange and the Multilateral Trading Facility of ‘EN.A’, for which the relative Competent Authority is the HCMC, shall not apply to:

(a) Market Makers performing transactions on the above shares;

(b) Market Makers performing transactions on the stock derivatives of the above shares;

(c) Market Makers performing transactions on warrants of the above shares;

(d) Market Makers performing transactions on ETFs and Index derivatives of which the above shares are part of their composition.

All of the above exemptions referring to market making activities are permitted only when the short selling transactions are conducted for hedging purposes.

This decision enters into force as of 3 August 2015.

Click on the above link for further details.