Settlement

Settlement System: technical and procedural details

 

Trading days The trading days of the DSS according to the trading calendar of ATHEXCSD
DSS opening hours 09:00 - 20:00 (local time) 08:00 - 19:00 (Central European Time - CET) 

 

Α. Bilateral settlement of OTC transactions involving domestic securities

Α. Bilateral settlement of OTC transactions involving domestic securities
Entry of instructions by Participants 09:00 - 20:00 08:00 - 19:00 (CET)
Entry of instructions for cash with same-day settlement date (SD) up to: SD 17:10 (local time) SD 16:10 (CET)

Entry of instructions without cash movement with same-day settlement date (SD) up to:

 SD 18:14 (local time) SD 17:14 (CET)

Maximum time gap between Entry Date (ED) and Trade Date (TD)

 2 business days (ED - TD <=2)

Maximum time gap between Settlement Date (SD) and Entry Date (ED)

 60 business days (SD - ED <=60)
Maximum time gap between Settlement Date (SD) and Trade Date (TD) 2 business days (SD - TD <= 2)
Instruction matching
Settlement instruction Matching Cycles 09:00 - 19:30 (local time) 08:00 - 18:30 (CET) Matching Cycles executed at 5-minute intervals
Matching tolerance amount

2 EUR, for settlement amount up to 100000 EUR, 

25 EUR, for settlement amount over 100.000,01 EUR
 Settlement
Settlement Cycles for cash 09:30 - 17:25 (local time) 08:30 - 16:25 (CET) Settlement Cycles executed at 1-hour intervals. ATHEXCSD may also run ad hoc cycles.  
Settlement Cycles without cash 09:30 - 18:25 (local time) 08:30 - 17:25 (CET)
Maximum number of recycling days for unsettled instructions

20 business days for unmatched instructions,
60 business days for matched instructions counting from the latest between, ISD and  the last change date
 

 

Β. Bilateral settlement of OTC transactions in the framework of links

Entry of Settlement Instructions
Entry of instructions by Participants 09:00 - 20:00 08:00 - 19:00 (CET)
Entry of instructions for cash with same-day settlement date (SD) up to: SD 13:00 (local time) SD 12:00 (CET)
Entry of instructions without cash movement with same-day settlement date (SD) up to: SD 16:00 (local time) SD 15:00 (CET)
Maximum time gap between Entry Date (ED) and Trade Date (TD) 2 business days (ED - TD <=2)
Maximum time gap between Settlement Date (SD) and Entry Date (ED) 2 business days (SD - ED <=2)
Maximum time gap between Settlement Date (SD) and Trade Date (TD) 2 business days (SD - TD <= 2) 

 

C. Settlement on the instructions of Market Infrastructure Operators

Entry of Settlement Instructions
Entry of instructions for cash with same-day settlement date (SD) up to: SD 17:20 (local time) SD 16:20 (CET)
Entry of instructions without cash movement with same-day settlement date (SD) up to: SD 18:10 (local time) SD 17:10 (CET)

Maximum time gap between Entry Date (ED) and Trade Date (TD)

 2 business days (ED - TD <=2)

Maximum time gap between Settlement Date (SD) and Entry Date (ED)

 2 business days (SD - ED <=2)

Maximum time gap between Settlement Date (SD) and Trade Date (TD)

 2 business days (SD - TD <= 2)
Settlement instruction Matching Cycles
Settlement instruction Matching Cycles 09:00 - 19:30 (local time) 08:00 - 18:30 (CET) Matching Cycles executed at 5-minute intervals
Matching tolerance amount

0,00€
 Settlement
Settlement Cycles for cash 09:30 - 17:25 (local time) 08:30 - 16:25 (CET) Settlement Cycles executed at 1-hour intervals. ATHEXCSD may also run ad hoc cycles.
Settlement Cycles without cash 01:00 - 18:25 (local time) 00:00 - 17:25 (CET)
Maximum number of recycling days for unsettled instructions

0 business days
 

 

The resolution is in force since 01.02.2022.

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