As Greece moves toward default on its International Monetary Fund (IMF) loans, a nation-wide referendum has been scheduled for Sunday, July 5, to decide whether Greece remain in the eurozone. In addition, a bank holiday has been underway since June 28.
At the same time, the Hellenic Capital Market Commission (HCMC) made the following announcements via its June 30 board of directors’ meeting. The HCMC:
- Waived the suspension of the clearing and settlement operation regarding the AthexClear clearing house, part of the Athens Exchange Group (Athex), for the securities traded on the Athens Exchange. The return to settle was in order to finalize the clearing and settlement of “all un-settled transactions according to para 3 (c) of the Legislative Act of 28/6/2015;”
- Also waived the suspension of the settlement operation regarding securities traded on the Greek market by the Hellenic Central Securities Depository (CSD), for the purposes of finalizing the settlement of un-settled transactions, approving the relevant CSD board of directors’ decision.
In addition, Athex officials, citing the HCMC, announced that the Athex regulated market and the Multilateral Trading Facility of EN.A, the alternative MTF market of the Athens Exchange, will remain closed, throughout the current bank holiday as prescribed in the legislative act of June 28, 2015 until July 6.
The electronic secondary market HDAT, for government bonds operated by the Bank of Greece, will remain closed as will the Bank of Greece, officials say.
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