Securities Settlement Systems of the Athens Exchange

The clearing and settlement of transactions in securities and derivatives traded on the Athens Exchange  is effected by units of the Hellenic Exchanges S.A., following the acquisition by the latter of its subsidiaries Central Securities Depository S.A. and Athens Derivatives Exchange Clearing House S.A. in November 2006. The depository of the Hellenic Exchanges S.A. acts as the exclusive depository and securities settlement system for all transactions on the Athens Exchange and operates on a dematerialised basis. The framework and details of the clearing and settlement processes are governed by the Regulation on the clearing of stock exchange transactions and the operation of the dematerialised securities system, drawn up and supervised by the Hellenic Capital Market Commission.