ESMA reports that the emergency measure concerned consists of a temporary prohibition on short selling of shares and units of ETFs admitted to trading on the Athens Exchange irrespective of the venue where the transaction is executed.
The short selling temporary prohibition includes sales which are covered with subsequent intraday purchases. The short selling temporary prohibition applies to all depository receipts (ADRs, GDRs) representing shares admitted to trading on the Athens Exchange.
On the adverse events or developments
ESMA considers that there are adverse developments which constitute a serious threat to financial stability and to market confidence in Greece.
On the appropriateness and proportionality of the measure
ESMA considers that the measure is appropriate and proportionate to address the above-mentioned threats that persist in Greece.
On the duration of the measure
ESMA considers that the duration of the measure is justified and appreciates the HCMC’s statement in its notification of intent whereby the measure may be lifted during the period of enforcement of the measure, if considered necessary.
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© HCMC - Hellenic Republic Capital Market Commission
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