Compliance Report ISSA Recommendations 2000

ISSA - International Securtities Services Association

Compliance to the ISSA Recommendations 2000

Market: Greece

Status: April 22, 2002

Recommendation 1
Recommendation 2
Recommendation 3
Recommendation 4

Recommendation 5
Recommendation 6
Recommendation 7
Recommendation 8

Market selection

Recommendation 2

Securities Systems must allow the option of network access on an interactive basis. They should cope with peak capacity without any service degradation, and have sufficient standby capabilities to recover operations in a reasonably short period within each processing day.

1. How often, over the last twelve months, has the depository been required to:

Change its published settlement timetable?
The settlement rules are specified in the Rulebook that governs the operation of the DSS system. Over the last twelve months there has been no change in the timetable.
On May 2001, an additional facility for cancellation of give-up trades was offered to the participants and was incorporated to the timetable.

Extend the time of opening for settlement input by users?

DSS is open for settlement input 12 hours a day from 8:00 - 20:00.
CSD extended the DSS operation by 1 hour:

2 times due to technical reasons, available to all participants.
since 17/9/2001due to the temporary extension of Athens Derivatives Exchange trading hours, available only to Athens Derivatives Clearing House.

Delay start of day processing?
No delays have been observed in the start of day processing.

2. Does the depository operate real time or multiple batch processing for settlement? CSD operates multiple batch settlement processing for settlement, which is called DSS - Dematerialised Securities System.

3. Does the depository allow interactive communication (on line real time) with its users, enabling settlement input and amendment? Yes, through the use of proprietary software provided by the CSD to its participants, the user is able to input and amend settlement instruction on online real time basis.

4. Has the depository ever failed to recover an outage within the day or failed to start processing runs for a whole day; and, if so, when did that failure arise and what steps have been taken to prevent a similar event in the future? No, this has never happened in CSD.

1.	How often, over the last twelve months, has the depository been required to:
	Change its published settlement timetable?	The settlement rules are specified in the Rulebook that governs the operation of the DSS system. Over the last twelve months there has been no change in the timetable. On May 2001, an additional facility for cancellation of give-up trades was offered to the participants and was incorporated to the timetable.
	Extend the time of opening for settlement input by users?	DSS is open for settlement input 12 hours a day from 8:00 - 20:00. CSD extended the DSS operation by 1 hour: 2 times due to technical reasons, available to all participants. since 17/9/2001due to the temporary extension of Athens Derivatives Exchange trading hours, available only to Athens Derivatives Clearing House.
	Delay start of day processing?	No delays have been observed in the start of day processing.
2.	Does the depository operate real time or multiple batch processing for settlement?	CSD operates multiple batch settlement processing for settlement, which is called DSS - Dematerialised Securities System.
3.	Does the depository allow interactive communication (on line real time) with its users, enabling settlement input and amendment?	Yes, through the use of proprietary software provided by the CSD to its participants, the user is able to input and amend settlement instruction on online real time basis.
4.	Has the depository ever failed to recover an outage within the day or failed to start processing runs for a whole day; and, if so, when did that failure arise and what steps have been taken to prevent a similar event in the future?	No, this has never happened in CSD.