The ATHEX Board of Directors has decided to adopt the proposed amendments of the current rules and regulations concerning repurchase agreements (i.e. Stock lending and borrowing) and the abolition of the current limitation s regarding short sales.
“The main purpose is to abolish the current restrictions such as the flat tick rule (i.e. the price of short sales orders can be equal or higher than last trade’s price), the obligation to execute prior to any short selling a stock lending contract through the Athens Derivatives Exchange, and the obligation to return shares to the Athens Derivatives Clearing House following a purchase made for the closing of a short sell,” says a spokesman for Eurobank EFG.
The changes will be in force following the acceptance of the CMC.