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The Stock Markets Steering Committee of Hellenic Exchanges - Athens Stock Exchange, during today's session approved:
- The modification of Resolution No 2 , concerning:
(a) The specifications and obligations of Market Making on Bonds, which are the following:
| Maximum spread |
The Market Maker is obliged to enter buy and sell orders(quotes), on fulfilment of its obligations, entering prices with maximum spread of:
For the price intervals, the buy price is considered. |
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| Minimum Quote Volume |
The Minimum Quote Volume is specified at 1.000 Euro Nominal Value. For the calculation of the final Minimum Quote Volume, a rounding upright is performed. The Market Maker is able to request to ATHEX to change the Minimum Quote Volume for a specific Bond. ATHEX may modify the Minimum Quote Volume, taking into consideration among others, the nominal value of the bond, as well as the minimum traded quantity. |
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| Minimum Daily Quantity | Is specified as the total number of the issued bonds. |
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| Minimum time of quote re -entry | The Market Maker is obliged to re-insert orders, the latest five (5) minutes after the total or partial fulfilment of the Minimum Quote Volume. |
(b) the procedure for obtaining the status of Market Maker, so that the Member's "Internal Procedural Rules for Market Making" is prerequisite document in order for the Member to apply for Market Maker, while the annexes "Memorandums - Questioners" for Stock and Derivatives Markets are removed from the Resolution. Also, the Application Form, which remains as the only Annex of the Resolution, is replaced by a new version, which is for Market Making Application on either Stock or Derivatives Market.
- The modification of Resolution 22, concerning the activation of Automatic Volatility Interruption Mechanism to Bonds Market and the addition of the five (5) best buy and sell orders (BBO- level 5) into the Pre-Trading transparency information of the Bonds products.
- The modification of Resolution 24, concerning the implementation of exception of charges for the orders which are inserted to the system and remained for more than 15 seconds at the order book, in order to apply for Bonds orders as well.
- The modification of Resolution 1, concerning the access permission to the Clearing System for the Trading Members of Derivatives Market, exclusively and only for the necessity of the "trade structuring procedures" on derivatives, which is provided to the users that holds either the Securities Clearing Specialist Certificate (SCSC) or the Derivatives Clearing Specialist Certificate (DCSC).
Also, the Stock Markets Steering Committee announces that the corporate actions below will be implemented:
Monday, September 19th, 2016
- Ex-rights trading for the issue of a Convertible Bond Loan of "FORTHNET S.A." (ISIN: GRS406003004), realized in favor of existing shareholders of the company, in terms of 3 convertible bonds for every 1 old common registered share, at an issue price of €0.30 per bond. The record date for the aforementioned corporate action is Tuesday, September 20th, 2016. The rights' subscription period will be between Thursday, September 22nd, 2016 and Thursday, October 6th, 2016 (included), while trading of 110,097,185 rights on the electronic trading system (OASIS) of ATHEX will take place between Thursday, September 22nd, 2016 and Monday, October 3rd, 2016 (included).
Wednesday, September 21st, 2016
- Commencement of trading of the existing shares of "EPSILON NET S.A." (ISIN: GRS498003003) with final par value of €0.30 per share and ex-rights trading for the entitlement to the capital return of €0.09 per share, as part of the equal increase and decrease in the par value of the shares of the company. The record date for the aforementioned corporate action is Thursday, September 22nd, 2016.
