ATHEXCSD, as Investor CSD provides cross-border settlement services to its Participants for transactions in dual listed securities.
The cross-border settlement services are provided by the CSD in accordance with the provisions of Law 3756/2009 concerning the establishment of links with foreign central securities depositories directly or through custodians, the Rulebook of ATHEXCSD (ATHEXCSD Regulation) and the resolutions of the Board of Directors of ATHEXCSD.
Cross-border settlement involves OTC instructions for the delivery or receipt of securities against or without payment (DVP/DFP - RVP/RFP) entered by a Participant in the OTC transaction management subsystem of the DSS. The instructions are transmitted to the respective depositories for settlement by the CSD, through its providers.
The financial obligations of Participants associated with the cross-border settlement of their transactions are paid through the cash settlement accounts kept by Participants in ECB's Target2 system, for transactions in euros (Central Bank Money), and in AlphaBank, for transactions in currencies other than Euro (Commercial Bank Money).
The entry of orders by Participants and the fulfillment of their financial obligations should follow the specific instructions provided by the ATHEXCSD and be within the time limits specified per market (ATHEXCSD SSI Matrix & Cutoff Times), taking into account the specific arrangements that apply in case of bank holidays (Holidays 2023, Holidays 2024)
Standard Settlement Instructions : ATHEXCSD SSIs
Cutoff Times : Cutoff Times
More detailed information on cross-border securities settlement issues are given under Frequently Asked Questions .
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