Short selling extension continues for Greece
30 January 2013 Athens
Image: Shutterstock
The Hellenic Capital Market Commission (HCMC) has decided to once again extend its ban on short selling for a further three months, effective from 1 February.
The additional three-month ban is an extension of the HCMC’s previous ban, which it introduced in November 2012.
The European Securities and Markets Authority (ESMA) released its opinion on Greece’s ban extension on 29 January.
“ESMA considers that there are adverse developments relating to the Greek banking sector which constitute a serious threat to financial stability and to market confidence in Greece.”
“ESMA [also] 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 appropriate,” said a statement from ESMA.
The additional three-month ban is an extension of the HCMC’s previous ban, which it introduced in November 2012.
The European Securities and Markets Authority (ESMA) released its opinion on Greece’s ban extension on 29 January.
“ESMA considers that there are adverse developments relating to the Greek banking sector which constitute a serious threat to financial stability and to market confidence in Greece.”
“ESMA [also] 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 appropriate,” said a statement from ESMA.
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