ATHEXCSD provides settlement and depository services. Safe and high-performance procedures allow efficient and almost zero risk settlement execution, at securities account level.
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06-06-2012 | Omgeo ranks the Greek Market as one of the safest in the world in terms of settlement and clearing of transactions
The Greek Market is considered as one of the safest markets in terms of settlement and clearing of transactions. This conclusion was reached by a study by Omgeo, which was based on data from international custodians, ranking the Greek market in a very high position worldwide.
According to the study, HELEX is in the 3rd place in the world in terms of its reliability with regards to timely and secure settlement and clearing of transactions.
The risk for the Greek market due to erroneous settlement, amounts to only 1%, while only two markets, those of France and Korea, appear in this study with zero risk.
It is worth noting that the Greek market in comparison to other developed markets, Australia is quite in the same level as Greece, while in the markets with the worst performance, Portugal appears with a risk of 10% for shares and 5% for fixed income securities, Israel with 7.5% and 7% respectively, Austria with 4% and 4.3% and finally Germany and the Nordic countries with a 5% risk for the shares.
The settlement process results in the following definite and irrevocable actions:
- the transfer of values from the sellers' Securities Accounts to the buyer-investor Securities Accounts, through DSS.
- the simultaneous debiting/crediting of the Participants' cash accounts on central bank money through ECB's Target 2 payment system.