ATHEXCSD
OTC Settlement Services
Technical and Procedural Details
Settlement Days and Hours
- 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)
Bilateral Settlement of OTC Transactions Involving Domestic Securities
| BILATERAL SETTLEMENT OF OTC TRANSACTIONS INVOLVING DOMESTIC SECURITIES | |
| Entry of instructions by Participants | 09:00 - 20:00 (local time) 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 are running either by inserting a new settlement instruction, or by modifying a matching field of an already inserted instruction | 09:00 - 19:30 (local time) 08:00 - 18:30 (CET) |
| Matching tolerance amount | 2 EUR, for settlement amount up to 100.000 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 amended date |
Bilateral Settlement of OTC Transactions in the Framework of Links
| ENTRY OF SETTLEMENT INSTRUCTIONS | |
| Entry of instructions by Participants | 09:00 - 20:00 (local time) 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 (ED - TD <=2) |
| Maximum time gap between Settlement Date (SD) and Trade Date (TD) | 2 business days (ED - TD <=2) |
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 are running either by inserting a new settlement instruction, or by modifying a matching field of an already inserted instructionί | 09:00 - 19:30 (local time) 08:00 - 18:30 (CET) |
| 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 |