ATHEXCSD

Securities Accounts 

 

Types of ATHEXCSD Securities Accounts   

 

According to Law 4569/2018 and the ATHEXCSD Rulebook, registering and monitoring securities in the Dematerialized Securities System (DSS) on behalf of beneficiaries and upon their choice, may be provided with: 

 

  • individual segregated securities accounts or  
  • omnibus securities accounts in the name of a Registered Intermediary 
  • A Common Investment Unit, which ensures the inheritance of the securities tax-free 

 

Information on the disclosure of levels of protection and segregation of securities accounts for the protection of the securities of participants and the securities of their clients (art. 38 paragraph 6 of Regulation (EU) 909/2014) can be found here.

For listed shares, the shareholder status is evidenced:

 

  • Either through holding securities in an individual segregated securities account of the beneficiary at the DSS
  • Or through the identification process for the beneficiaries' holding securities in an omnibus securities account in the name of a Registered Intermediary. In case of the latter, the shareholding status is evidenced in accordance with SRDII Directive (ΕU) 2017/828, IR (EU) 2018/1212 and Law 4706/2020 

The ownership of other listed and non-listed securities, depending on their legal framework, is evidenced 

 

  • Either through holding of securities in an individual segregated securities account of the beneficiary at the DSS
  • Or in the books of the beneficiary's respective intermediary for securities held at top-tier in an omnibus securities account of a Registered Intermediary at the DSS

 

For more information regarding account opening and maintenance in ATHEXCSD, please see here.

 

 

Securities Accounts' Structure

 

The creation of an individual or an omnibus securities account in DSS is carried out either by a Participant of ATHEXCSD, at the choice of its beneficiary clients, or by ATHEXCSD.  

 

The details of the beneficiary of an individual or an omnibus securities account in DSS are determined in the respective Share of the beneficiary in the DSS. 

 

 

CATEGORIES OF SECURITIES ACCOUNTS

Individual Segregated Client Securities Accounts

Account CategoryDescription
Participant's Own Securities AccountBelongs to an ATHEXCSD Participant for its own account, and it is opened by the Participant itself. 
Client Securities AccountBelongs to the beneficiary owner of an individual segregated Client Securities Account, natural or legal person, and is opened by an ATHEXCSD Participant of the beneficiary's choice. 
Issuer Securities AccountOpened by ATHEXCSD for the Initial Recording of the Issuers' shares and the performance of corporate actions.
Fund Manager Securities AccountOpened by ATHEXCSD for the Initial Recording of the fund Manager's units and the performance of corporate actions.  
Fund Securities AccountOpened by ATHEXCSD in the name of an Exchange-Traded Fund or Non Exchange-Traded Fund of a Fund Manager. A segregated Securities Account is maintained for each Fund managed by the Fund Manager. 
Intermediary Settlement Securities AccountOpened by ATHEXCSD to serve the needs of settlement through the Provisional Settlement Account of an Intermediary for account of other beneficiaries. 
Member Settlement Securities AccountOpened by ATHEXCSD to serve the needs of settlement through the Provisional Settlement Account of a Trading Member or a Clearing Member. 
Joint Investor Securities AccountOpened in the DSS by an ATHEXCSD Participant for natural persons who are its clients, provided they are acting as joint beneficiaries of a joint securities account. It is identified by the persons of the joint beneficiaries as co-owners participating therein and by indication of succession in the event of the death of one of the joint beneficiaries. 
Co-Owner Securities AccountOpened in the DSS by an ATHEXCSD Participant on behalf of its clients, provided they are acting as joint beneficiaries and pro indiviso co-owners in the framework of inheritance succession. It is identified by the persons of the joint beneficiaries as co-owners participating therein and by the percentage of co-ownership of the Securities in the Securities Account.  
Trust Securities AccountOpened in the DSS by an ATHEXCSD Participant in the name of a trust or similar legal arrangement and its trustee. 
Public Body Securities AccountOpened in the DSS by an ATHEXCSD Participant in the name of the Public Body that is entitled to hold Securities on the basis of applicable provisions.  
Compulsory Deposit Securities AccountOpened in the DSS by the Consignment Deposits and Loans Fund (C.D.L.F.) in its own name, as a Special Participant, for the management of compulsory consignments on titles maintained and monitored in the DSS, either in Client Securities Account or in an Escrow & Compulsory Deposit Securities Account, in accordance with the rules governing the operation of the C.D.L.F. 
Escrow & Compulsory Deposit Securities Account

It is opened in the DSS by an ATHEXCSD Participant in the name of:

  • the escrow agent, in the case of escrow or other similar arrangement in accordance with applicable provisions
  • the Consignment Deposits and Loans Fund (C.D.L.F.), in the case of a compulsory deposit in accordance with the rules governing the operation of the C.D.L.F.   

 

Omnibus Clients Securities Accounts

Account CategoryDescription
Omnibus Clients Securities Accounts in the name of a Registered IntermediaryOpened in the DSS by an ATHEXCSD Participant in the name of a Registered Intermediary, which acts on behalf of its clients. 
Omnibus Clients Collateral Account (Securities Account Under Special Laws)Opened in the DSS by ATHEXCSD for a Registered Intermediary, as Member of a Market Infrastructure Operator, if it acts as a Participant of ATHEXCSD for the purposes of providing collateral as margin and/or other similar provision.