Transaction management rules - Greece - BOGS
Market claims
Market claims | |
Processing of market claims on the market | Applicable |
Eligible corporate action events | Interest payments |
Detection period | 20 T2S opening days after the record date |
Eligible transactions | All as of status matched |
Detection key dates | Securities in nominal: Record date Intended settlement date Effective settlement date Securities in units: n/a |
Opt-out/Ex/Cum indicator | Opt-Out indicator is applicable |
Characteristics of market claims instructions | Transaction code “CLAI” Status unmatched Same trade date as per underlying instruction Settlement date is the payment date of the underlying event Partial settlement indicator as per underlying instruction (always NPAR for claims in cash) |
Tax status of claims | Interest: Market claims are processed on a gross basis without tax adjustment. |
Non T2S-eligible proceeds | Market claims are not generated for: Cash distributions in a currency other than EUR Securities distributions in non-T2S eligible securities |
Processing of market claims by Clearstream | Applicable |
Scenarios for market claim detection for securities in nominal
TD before | ISD before or on RD | ASD before or on RD | Opt-out indicator | Ex/Cum indicator | Market claim to be created (T2S rules) | Direction | Issuer CSD |
Y/N | Y | N | Blank | n/a | Y | From Seller to Buyer | Ya |
a. Market claims are only triggered when intended settlement date is before RD, while RD = PD-1, hence most likely N/A.
No market claim detection for transactions in which opt-out is present
TD before Ex-datea | ISD before or on RD | ASD before or on RD | Opt-out indicator | Ex/Cum indicator | Market claim to be created (T2S rules) | Direction |
n/a | n/a | n/a | Opt-out | n/a | No | n/a |
a. N means TD => Ex-Date but TD <= RD.
Transformations
Transformations | Comments | |
Processing of transformations on the market | Applicable | |
Eligible corporate action events | All income and non-income mandatory reorganisation events in cash and securities (except CHOS events) | Voluntary reorganisations are subject to buyer protection |
Detection period | 20 T2S opening days after the record date | |
Eligible transactions | All as of status matched, but still pending | |
Detection key dates | Record date, for mandatory reorganisations without options Market deadline, for mandatory reorganisations with options | |
Opt-out indicator | Supported as additional matching field | |
Characteristics of re-instructions due to transformations | Transaction condition “TRAN” Status unmatched Same trade date as underlying instruction Settlement date being the latest date between the payment date of the underlying event and the intended settlement date of the underlying instruction Partial settlement indicator as per underlying instruction (always NPAR for claims in cash) | |
Non T2S proceeds | Transformations are not generated for: Cash proceeds in a currency other than EUR; Securities proceeds in non-T2S eligible securities. | |
Processing of transformations by Clearstream | Applicable |
Scenarios for transformations
Reorganisation event type | Cancellation instruction to be created | Opt-out Indicator | Transformed instruction to be created |
MAND | Y | Blank | Y |
MAND | Y | Opt-out | N |
CHOS | N | Blank | N |
CHOS | N | Opt-out | N |
VOLU | N | Blank | N |
VOLU | N | Opt-out | N |
Buyer protection
No Buyer Protection (BP) key dates are reported as not provided by the market.