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HELEX arrow Clearing & Settlement
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Clearing & Settlement
Clearing Regulation
DSS Operation Regul.
Settlement Guarantee

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Dematerialized Securities System
 Hellenic Exchanges (HELEX) is the organization responsible for the clearing and settlement of the Athens Exchange transactions and administration of the Dematerialized Securities System (DSS). In DSS all dematerialized securities are recorded and transfers are monitored through the Investors Shares and Securities Accounts kept in DSS.
 
Clearing Procedure
On trade date T, following the closing of the trading day, the ATHEX informs electronically the Helex with the trade file of the day. The file is downloaded to DSS where securities and values of trades (buys or sales) are added up per investor, per broker, per security and type of trade and the weighted average value of the trade is calculated by dividing the total value of the trades over the quantity of securities (trade averaging).
 
Cash Settlement
The cash obligations deriving from the buys are netted with the cash claimed for the sales and from the net cash position of the Operator.
 
Settlement
On T+3, in time intervals determined by Helex, the settlement cycles are carried out. During this stage the Helex transfers the securities from the Securities Accounts of the sellers to the Securities Accounts of the buyers-investors and simultaneously executed the equivalent debits and credits of the Operators cash accounts in the cash settlement bank.
 
Guarantee of Transactions
 
IPO

When a company is about to be listed in the ATHEX with public offering the investor must declare to the Underwriter, the Investor Share, the Securities Account and the Operator of the account where the securities will be registered or declare CSD as his operator in case he wishes the securities to be recorded in the Special Account.

 
Rights Issue

In the case of share capital increase of a listed company with rights issue, the old shareholders of a company are usually given a preference right.

 
Capital Market Support

Helex ensures the transparency and reliability of the clearing and settlement and cooperates with the Greek capital market entities providing its continous support for the modernization of services and the further development of new products and services. With this objective, Helex created the appropriate software enabling DSS to support the operation of the New Market (NEXA) and the Greek Market of Emerging Capital Markets (EAGAK), the clearing and settlement of preference rights, the securities borrowing and lending, the margin account and the exercise of 10 year Government Bond Futures.

 
New Services
In the beginning of 2003, the Special Savings Bonds were offered to the investors by the Greek Government.
 
HELEX Fees

You can view the HELEX fee table

 
Clearing & Settlement Regulation

 

 

 
Dematerialized Securities System (DSS) Operation Regulation

 

 

 

 
Operators
Download the list of operators in pdf formatpdficon_small.gif
 
New Clearing Model
 
Risk Parameters
 
Ερωτηματολόγια / Questionnaires
 

The Association of Global Custodians Questionnaire

The Association of Global Custodians (AGC) conducts an annual Depository Information-Gathering Project to obtain information necessary for U.S. investment funds to comply with U.S. Investment Company Act Rule 17f-7 analyzing requirements.

HELEX responds to the ACG Questionnaire providing information regarding all aspects of the organization and the conduct of its business.

Please click on the edition of the questionnaire you are interested in.

HELEX AGC Questionnaire 2012 - 2013 (pdf)

HELEX AGC Questionnaire 2011 - 2012 (pdf)

HELEX AGC Questionnaire 2010 - 2011 (pdf)

HELEX AGC Questionnaire 2009 - 2010  (pdf)

For more information regarding HELEX's responce to the AGC questionnaire please e-mail questionnaires@helex.gr

For information regarding AGC please use the link www.theagc.com

 
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