Under the provisions of Law 3756/2009, the framework for monitoring securities in book-entry form was restructured extending the ability of the CSD's Dematerialized Securities System (DSS) to monitor any securities kept in a foreign depository or registry, regardless of whether they have been issued by Greek or foreign companies and regardless of whether they are listed on a regulated market or traded on a multilateral trading facility.

The CSD, being the DSS administrator, is allowed to create links to foreign depository systems or registries  directly or through credit institutions acting as custodians. The CSD can keep with them a centralized securities account in its name but on behalf of third party beneficiaries, in accordance with the foreign law applicable to the foreign securities. All securities in the above accounts, kept by CSD with its Providers (linked depositories and custodians),  are recorded  in the Securities Accounts of beneficiary investor and monitored in the DSS through book entries.

The establishment of links is subject to approval by the Hellenic Capital Market Commission that can oppose them if it considers that the smooth functioning of the market and the protection of investors are not ensured.

The CSD maintains links offering services to shares, ETFs and other equity products, through cooperating providers (depositories/custodians), in the following markets/depositories:

Foreign Securities/Markets  CSD Provider
Germany  Clearstream Banking Frankfurt (CBF) Clearstream Banking Frankfurt (CBF)
Australia  OeKB Citibank Global Transaction Services, London (CGTS) 
Austria ASX
Belgium  Euroclear Belgium
Canada  CDS
Denmark  VP 
France  Euroclear France
Finland  Euroclear Findland 
Hong Kong  HKEx 
Ireland  Euroclear Ireland
Italy  Monte Titoli
Japan  JASDEC
Netherlands  Euroclear Netherlands
New Zealand  New Zealand CSD
Norway  VPS
Portugal  Euroclear Portugal
Singapore  SGX/CDP 
South Africa STRATE
Spain  Iberclear
Sweden  VPC 
Swiss  SIX SIS
UK-LSE  Euroclear CREST
UK-LSE ΙΟΒ (USD)  Euroclear Bank 
USΑ  DTCC

 

The CSD plans to support, gradually, until the first quarter of 2014,

  • bonds and other fixed-income securities of the above markets and
  • securities from additional European markets (Bulgaria, Croatia, Czech Republic, Estonia, Hungary Latvia, Lithuania, Poland, Romania, Russia, , Serbia, Slovenia), Turkey and Israel.

Foreign Securities Transaction Services include the following individual services:

To provide safe, efficient and competitive Foreign Securities Transaction Services, the existing technological and operational infrastructures used by Operators are utilized, like Dematerialized Securities System (DSS) and the ATHEX Transaction Network (ETN).

An Operator who wishes to use services Foreign Securities Transaction Services must complete the Application for the Subscription to the Foreign Securities Transaction Services (Form INVCSD001) specifying the markets of interest and the cash settlement account numbers in each respective currency.

More detailed information on issues regarding the Foreign Securities Transaction Services in the DSS are provided in the Frequently Asked Questions (available only in the Greek language).

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