OneClearstream migration to Greece (BOGS)

21.12.2018

As previously communicated in Clearstream Banking's1 Announcement A17129, Clearstream Banking S.A. (CBL) will change its settlement flow and appoint Clearstream Banking AG (CBF) as its single gateway to the T2S Settlement platform. This will lead to the migration of BOGS T2S-eligible securities to CBF on and effective

24 June 2019

This forms part of our ongoing efforts to harmonise our services allowing customers to benefit from advantages across multiple areas of our business.

Clearstream Banking will access BOGS for settlement in T2S via CBF as follows:

Country

CSD

Type of link

Securities eligible2

Greece

Bank of Greece (BOGS)

Direct link to Clearstream Banking AG, Frankfurt for holding  BOGS eligible securities

Government debt securities (Fixed rate bonds; Savings certificates; Privatisation certificates); Treasury bills eligible in BOGS and T2S

The Market Link Guide and Realignment Guide for Greece, with validity from 24 June 2019 will be available on the Clearstream Banking website in due course. Customers are reminded that due to capital restrictions in Greece certain types of transactions are subject to limitations, for example:

  • Against payment transactions are allowed by BOGS provided that they refer to transfers between different counterparties and do not constitute portfolio transfers. Customers are responsible to ensure compliance with this requirement.
  • Free of payment deliveries from Greek BOGS participants to foreign BOGS participants (that is, receipts in CBF) are allowed under the following conditions:
    • The free of payment transfer aims to cover an onward delivery that has already been concluded abroad;
    • The sale proceeds of the onward delivery must be returned to a cash account maintained in the Greek banking system as specified in the Ministerial Decision of 31.7.2015/Article 1-par 5.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.

2. The scope of eligible securities will exceptionally include one warrant with ISIN GRR000000010.