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Market Passport for Banks and Brokers
Market information
Supporting you
Key market information
-
Local currencyEuro
(EUR) -
2017 GDPUSD
201bn -
Time zoneGMT
+2 hours -
Numbering
systemISIN
-
Main stock
exchange indexATHEX 20
Key market figures
Local market infrastructures
| Equities | Corporate bonds | Government bonds | Derivatives | |
|---|---|---|---|---|
| Main trading venue | ATHEX | ATHEX | HDAT | Athens Derivatives Exchange |
| Main clearing venue | Athens Exchange Clear | Athens Exchange Clear | n/a | Athens Exchange Clear |
| Settlement and custody | ATHEX | ATHEX | Bank of Greece | n/a |
| Cash leg | Central bank (TARGET2) | Central bank (TARGET2) | Central bank (TARGET2) | n/a |
Local market authorities and regulators
- The Bank of Greece supervises and controls all banking operations in the country
- The Hellenic Capital Market Commission supervises the exchange, investment firms, brokers and mutual funds
Market practices (ALL TIMES ARE LOCAL)
On exchange 4.00pm
7.00pm FOP
T2S tolerance limits apply to government bonds:
- Up to EUR 100,000 trade value: EUR 2.00
- Over EUR 100,000 trade value: EUR 25.00
There is no tolerance for equities.
Penalties range from EUR 300 to EUR 6,300 (or 2% of the trade value for debts above EUR 450,001).
Strict buy-in practice on T+2: if the trade is not covered at standard settlement date, there is a second buy-in window on T+3 between 10.15-10.30am (spot2 process).
Something interesting to know before you visit us in Greece
In Greece, people celebrate the “name day” of the saint that bears their name – rather than their own birthday.
BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.
Supporting you
BNP Paribas Securities Services in Greece
We are one the few global financial institutions which have remained committed to the Greek market, thanks to a unique operational model combining a full custody service range and a strong risk framework.
Our main services
Core
We offer local clearing and custody to domestic and foreign institutions. Our core services include settlement, on-exchange clearing, safekeeping, corporate actions, proxy services, cash and collateral management.
Market-specific
- Derivatives clearing
- Full segregation of securities and cash settlement in TARGET2 via Banque de France
What makes us different
- A ‘one-stop shop’, with a local presence covering cash, equities, fixed income, derivatives and clearing services
- Active participation in market initiatives and practices, an example being our successful and seamless TARGET2 Securities (T2S) migration
- A major member of the Hellenic Bank Association, representing the position of non-resident financial institutions
- Regulatory-approved risk framework and operational setup, containing the impact of capital control measures
Selected market recognition
Global Investor Investment Excellence Awards (2018): Sub-Custody Survey Winner Multi-market EMEA for Greece
A sound partner
BNP Paribas Securities Services has been present in the market since 1997 and continued servicing Greece even during the capital controls crisis. We enjoy excellent relations with Greek market authorities, being a member of the most important industry bodies. We have a track record in supporting the position of our clients on major market changes and events.
Contact
For more information, please contact your relationship manager or
Kelly Kakanaki, Head of Location
kelly.kakanaki@bnpparibas.com
Something interesting to know before you visit us in Greece
In Greece, people celebrate the “name day” of the saint that bears their name – rather than their own birthday.