ΑΤΗΕΧ Group provides the following options to issuers of corporate bonds and Greek Government bonds (GGBs):
- listing on the Regulated Market or trading on the Alternative Market and, concurrently, trading, clearing, settlement and registration or
- registration in dematerialized form with the electronic records kept at the Hellenic Central Securities Depository (HCSD).
The above services may be provided to both Greek and foreign issuers and pursuant to any law (for instance English law), always in compliance with European Directives and laws (e.g. Prospectus Directive).
A. Corporate Bonds
Corporate bonds issued by Societes Anonymes may be listed for trading on the Regulated Market or on the Alternative Market (EN.A.)
Local or foreign issuers operating under foreign law (i.e. English law) may list their bonds on ATHEX. The listing of all categories of corporate bonds is also supported:
- common bonds
- convertible bonds
- exchangeable bonds
- bonds with the right to participate in gains.
Currently on ATHEX there are corporate bonds traded not only on the Regulated Market, but also on the Alternative Market.
B. Greek Government Bonds
The following bonds are listed without being traded in the Regulated Market of ATHEX;
- Greek Government Bonds
- Greek Government Treasury Bills
Click below for more specific information:
Corporate Bonds subject to Law 4706/2020 - General Information
- Corporate bonds are issued by a societe anonyme established in Greece or a foreign equivalent legal form company.
- They may be listed to trading on regulated markets in Greece, on the condition that such markets are connected to the ATHEX Dematerialized Securities System (DSS).
- Where dematerialized bonds are issued, bondholders must form a group. The company will, by written agreement, nominate the bondholder representative, who may only be a credit institution or an investment firm.
- It is the role of the bondholder representative to represent bondholders vis-a-vis the issuer and shield their interests. The representative's acts will bind the bondholders and he will be held responsible vis-a-vis the bondholders for any misdemeanor. The representative will, upon receiving the funds destined to settle the liabilities arising out of the corporate bonds, proceed to forthwith deposit such funds.
Greek Government Bonds - General Information
It is possible to list on the regulated market bonds that have been issued by the Greek government, public-law bodies corporate, regional and local government, other States, their regional and local government, or public-law international organizations (Article 8 of Law 3371 /2005).
For bonds to be listed, they must be freely negotiable, the application for listing must concern all bonds of the same issue.
On ATHEX, apart from the listed Greek Government Bonds, series of Greek Government Treasury Bills have also been listed.
Corporate Bonds listing requirements and procedure
Bonds may either be listed on the Regulated Market or be admitted to trading on the ATHEX Alternative Market.
Please select the relevant market to view more information regarding the conditions and the procedure for listing/admission to trading, as well as the relevant supporting documents:
- ATHEX Rulebook
- Resolution No 28 of the ATHEX BoD; Documents prescribed for primary listing of securities in ATHEX.
A. Corporate Bonds
Initial Listing/Admission to trading
|Regulated Market||Alternative Market|
|Listing fee EUR 3,000 regardless of the issue amount||Admission fee EUR 1,500 regardless of the issue amount|
|Examination of the application file for the provision of the Initial Recording Service: € 1,000|
|Initial Recording of securities: € 3,000 per corporate bond and in addition:|
a. 0.025% for nominal value up to € 40,000,000
|Maintainance of issuer data and securities: € 1,200 per year and in addition:|
a. 0.0000% for nominal value up to € 40,000,000
|Maximum: € 5,000 per year and per issuer|
B. Government bonds and Greek Government Treasury Bills
- Listing fee EUR 1,500 regardless of the issue amount
- DSS registration fees 0.04 % on the issue value.
- Bonds and other fixed income securities are traded under the ATHEX "Fixed Income Securities" category.
- Trading is anonymous.
- Trading is carried out on the Main Board following the "continuous trading" method, the Pre-Agreed Trading Board (for pre-agreed trading) and the Special Terms Board using Hit & Take.
- The price increment for fixed income securities is fixed at 0.0001% of their face value.
- Daily fluctuation limits are free for fixed income securities.
- The minimum trading unit for fixed income securities is equal to the unit.
- The closing price is computed based on the calculation of the volume-weighted average of the trading price for the bond for the last 30 minutes of Continuous Trading Phase.
- Trading clearing and settlement is performed at T+2.
New Listings Prospectuses
Laws and Regulations
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