GREECE: Extension and amendment of Greece short selling ban to 31st July

Wednesday May 1 2013

The Greek Hellenic Capital Market Commission has published Decision 1/645/30.4.2013, which amends and extends the existing Greece short selling ban in bank shares to 31st July 2013. The Greece short selling measures apply to the following banks:

• ALPHA BANK Α.Ε.
• ATTICA BANK S.A.
• NATIONAL BANK OF GREECE S.A.
• EUROBANK ERGASIAS S.A.
• PIRAEUS BANK S.A.
• CYPRUS POPULAR BANK PUBLIC CO LTD
• BANK OF CYPRUS PUBLIC COMPANY LTD

Market making transactions continue to be exempted.

The prohibition includes sales which are covered by subsequent intraday purchases, and as previously includes transactions in depository receipts. The prohibition has been amended however, to now include transactions in warrants representing the above bank shares.

ESMA has issued an Opinion approving the extension of the temporary measures – click here.

Click on the above link for the HCMC Decision in English.