GREECE: Q and A on emergency short selling ban

Thursday July 2 2015

The HCMC has answered the following questions on the emergency measures in the Greek capital market.

The questions and a summary of the answers are:

1. What are the emergency measures taken by the Hellenic Capital Market Commission (HCMC)?
   Following the 28 June 2015 Legislative Act, the HCMC decided that there would be a suspension of trading of all securities listed on the Athens Exchange Securities Market. Amongst other things, it was also decided that there would be a temporary prohibition of transactions in any financial instrument which would create a net short position.
    
2. Which are the specific securities affected by the measures?
   There is an attached list of ISIN numbers and bonds contained in the link.
    
3. For how long will these measures apply?
   The emergency measures of points (i) to (ii) above will apply from 28 June 2015 until 6 July 2015.
    
4. What about the clearing and settlement of the transactions effected before the imposition of measures?
   The settlement for the transactions with settlement dates 29/06/2015 and 30/06/2015 has been successfully completed.
    
5. What about other platforms connected to the ATHEX trading and clearing?
   ATHEXClear continues to clear the transactions executed on SIBEX Romania.
6. Does the net short position ban extend to all financial instruments?
   The ban covers all transactions in the financial instruments listed in Part I of Annex I of Commission Regulation (EU) No 918/2012 of 5 July 2012 contributing to the net short position.

Click on the above link for further details.