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.
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).
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.
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.
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.
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 Questionnaireproviding 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.
Clearing & Settlement 
