ATHEX ACADEMY

ATHEXCLEAR 

Certifications

 

 

As a foundational institution of the Greek capital market, the Athens Exchange Group is dedicated to safeguarding investors and its members. To uphold this commitment, we have implemented specific certification criteria for participants in the clearing system. While our certifications are permanent, certificate holders must maintain an active certification with the Hellenic Capital Market Commission or Bank of Greece.

 

 

ATHEXCLEAR offers the following certifications:

 

  • Securities Clearing Agent Certificate (SCC) for Clearing Members of ATHEXCLEAR
     
  • Derivatives Clearing Agent Certificate (DCC) for Clearing Members of ATHEXCLEAR
Useful Information

Participation Criteria

Anyone who is at least 18 years old and holds the (ΣΤ1) or (ΣΤ2) certificate from the Hellenic Capital Market Commission or Bank of Greece. 

Examination Material

The examination material for the specialties of SCC and DCC covers topics related to the Regulations of the Securities and Derivatives Systems respectively, the operation of transactions, and the associated systems (DSS) of the Athens Stock Exchange.

Specifically, the thematic sections of the examination material for the ATHEXCLEAR certification types are as follows: 

Securities Clearing Agent Certificate (SCC) 
Α. Institutional FrameworkΒ. Special Topics
Clearing Regulations for Transactions in Book-Entry Securities Clearing System (CSD): Clearing System 
Resolutions of the ATHEXCLEAR Board of Directors concerning the Securities Market & the Securities Lending Mechanism Clearing Members - Trading Members - Participants & Access to the Clearing System
Operating Rules of ATHEXCSD Basic Principles and Concepts of the Clearing System: Clearing Model, Risk Management & Settlement 
Resolutions of the ATHEXCSD Board of Directors concerning the settlement of the Securities Market and the Securities Lending Market Securities Shares and Accounts 
Regulations of ATHEX Clearing Accounts and Sub-accounts 
Resolutions of the ATHEX Board of Directors concerning the Securities Market Clearing Capital / Clearing Areas and Risk Management 
 Credit Limit Management: Updating the Trading System with Credit Limits and Trading Members 
 Procedures for clearing and settlement of transactions 
 General principles of settlement: Types of Settlement 
 Defaults 
 Measures against Clearing Members / Defaults 
 Types of measures and cases of their imposition
 Procedure for imposing measures 
 Transfers
 Pricing

 

Derivatives Clearing Agent Certificate (DCC)  
Α.  Institutional Framework Β.  Special Topics 
Clearing Regulations for Transactions in Book-Entry SecuritiesClearing System (CSD): Clearing System
Resolutions of the ATHEXCLEAR Board of Directors concerning the Securities Market & the Securities Lending MechanismClearing Members - Trading Members - Participants & Access to the Clearing System
Operating Rules of ATHEXCSDBasic Principles and Concepts of the Clearing System: Clearing Model, Risk Management & Settlement
Resolutions of the ATHEXCSD Board of Directors concerning the settlement of the Securities Market and the Securities Lending MarketSecurities Shares and Accounts
Regulations of ATHEXClearing Accounts and Sub-accounts
Resolutions of the ATHEX Board of Directors concerning the Securities MarketClearing Capital / Clearing Areas and Risk Management
 Credit Limit Management: Updating the Trading System with Credit Limits and Trading Members
 Procedures for clearing and settlement of transactions
 General principles of settlement: Types of Settlement
 Defaults
 Measures against Clearing Members / Defaults
 Types of measures and cases of their imposition
 Procedure for imposing measures
 Transfers
 Pricing 

 

Preparatory Seminars

If you are short on preparation time, you can opt to attend the preparatory seminars for the ATHEXCLEAR certifications. Register your participation here.

Examinations

Our examinations are held at least once a year at the Athens Stock Exchange headquarters (110 Athinon Avenue, Athens 104 42). The deadlines, application details, and examination schedule are posted on this page. 

Cost and payment methods

The participation fee for the examinations amounts to €150 and should be deposited into the following ALPHA BANK account. The bank deposit slip, under the depositor's name, must be presented or sent along with the application for participation.

Account Number:   101-00-2002-239542

Account IBAN:   GR89 0140 1010 1010 0200 2239 542 

Application and other supporting documents

The documents required in order for the applications to be considered complete and become accepted by the Athens Stock Exchange are the following:

  • Application for the SCC and DCC certifications (fully completed and signed)
     
  • Certificate of type (ΣΤ1) or (ΣΤ2) of the Hellenic Capital Market Commission or Bank of Greece (certified)
     
  • Copy of identity card or passport (certified)
     
  • Bank deposit slip under ATHEXCLEAR (€150) 
     

To participate in the examinations, you must submit your written application form and supporting documents to the Athens Stock Exchange's Protocol Office within the deadline or send them electronically to the following email: certifications@athexgroup.gr.

Exceptions

You may be exempted from the examinations (under Resolution 4) if you have:

  • An active certificate corresponding to the one to which your application relates, which must have been issued from a clearing house of an EEA Member State, the USA, Canada or Australia, carrying out similar activities to those of ATHEXCLEAR. and subject to supervision by the competent authorities of that State, or by other authorities competent to issue relevant certificates in that State or in the State governing the foreign Clearing Member, if different from the aforementioned State; 
    or 
  • Two years of experience, acquired within the last five (5) years from the date of submission of your application for certification, in a member or participant of a clearing house or central counterparty of an EEA Member State outside Greece, the United States, Canada or Australia, with the main occupation being the exercise of clearing functions equivalent to the scope of the certification applied for. This experience must be certified by the member or participant or the competent authorities and bodies, as the case may be, as having been acquired in accordance with the law governing it and, in particular, the specific winding-up regulations (certificate of previous experience).
     
  •  In addition to the conditions referred above, as appropriate:
     
    • Have attended a special seminar organized by the Competent Authority on subjects related to the specialization of the relevant certification. These seminars are organized at least two (2) times a year.
       
    • declare on a form made available by ATHEXCLEAR to the interested parties that he/she has taken note of the Regulations and the relevant Resolutions of the ETC, governing the operation of trading on the Athens Stock Exchange and the ECM Derivatives Market, clearing, settlement and related systems, and fully understands their content, being fully aware of the obligations and consequences of performing the duties of a Certified Clearing House, Securities or Derivatives Clearing House or Lending Participant, as the case may be.
Application for the acquisition of CIP CIP CertificatesDownload PDF
Joint Declaration of Candidate & SA Member Download PDF
Certified Copy of Type (C1) or (C2) Certificate of the C.C. or CBE   
Certified copy of identity card or passport  
Proof of payment of royalties in favour of Athens Exchange