GREECE: HCMC responds to query on new Greece short selling restrictions

Tuesday February 5 2013

In response to a query on the assets covered by the new Greece short selling restrictions which entered into force on 1st February, the Hellenic Capital Market Commission has responded as follows:

Please find on the following link the unofficial translation of HCMC Decision regarding ¨Prohibition of Greece short selling on shares comprising the FTSE/Athex Banking Index¨.

According to the above Decision, the prohibition applies to the particular shares and it does not apply to derivatives and ETFs. In addition, according to paragraph 3 of the article 1, “The short selling prohibition of paragraph 1 applies to all depository receipts (ADRs, GDRs) representing shares of the above mentioned credit institutions.”