New Services From Group Of Hellenic Exchanges

Group of Hellenic Exchanges - after the changes that have taken place regarding the implementation of MiFID in Greek market, and the liberalization of trading OTC – is offering a series of new services to its Members in order to secure its competitiveness in the international field of capital markets.

Additionally, taking into account the imbalance incurred to transactions due to the continuing effect of tax upon transactions, Group of Hellenic Exchanges has reached the decision to adapt the charges involved in the offered services.

Main objective of the new services is on the one hand to cover the obligation of its Members toward the Regulator for keeping the transaction reporting system and the transparency in the post trading process – as requested by MiFID - and on the other to increase competitiveness of Athens Exchange by initiating borrowing and lending of securities and the reregistration.

• Members of ATHEX will have the opportunity – should they wish so – to fulfill their post trading transparency service (PTTS) through Group of Hellenic Exchanges The obligation of post trading transparency – as resulting by the implementation of MiFID – specifies that Members operating an over- the counter transaction are obliged to report this transaction to the investment community. The infrastructure offered by Hellenic Exchanges for this service may cover the needs of both Greek and foreign securities traded in the Regulated Markets of Greece and other countries of the European Union. Announcements regarding OTC transactions will be distributed through Hellenic Exchanges with an annual fee of €3,600/Member, including 1,000 notifications.
• There is availability of borrowing and lending of securities in Athens Exchange after the implementation of the new legal framework by National Regulator regarding liberalization of borrowing and lending. For every such transaction, there will be a flat fee of €35 per transaction (both for lender and borrower), a cost close to the respective of other Securities Markets around Europe, enhancing competitiveness of Greek market.
• A flat rate of €150 for OTC transactions is being set up with the objective to increase competitiveness and transparency as provided by Athens Exchange Order Book.
• A new service for reregistration is offered by Helex. The particular service will be charged €10 per security.
• Finally, Helex offers a new optional service facilitating its members to fulfill their obligation for transaction reporting to the National Regulator. Offering of this service started last November free of charge for all Members of ATHEX. It will continue to be offered without any charges involved until 30th June 2008. From 1st July 2008 every Member using the service will be charged €80 per month and shall be renewed on a monthly basis.

It should be noted that all above-mentioned services offered by Group of Hellenic Exchanges reflect its efforts to support its Members during the transition period of post-MiFID and liberalization of markets. All new charges are effective from 1st April 2008, with the exception of transaction reporting system, which will be effective from 1st July 2008 onwards.