Source: Hellenic Exchange Group
The Hellenic Exchange Group took the first step towards implementing the Code of Conduct, which was signed on November 7th 2006 in Brussels, by posting all of its fee schedules and other relevant documents on its website.
This action, further increases transparency, within the framework of the European Code of Conduct for Clearing & Settlement which Hellenic Exchanges Group co-signed, along with other Exchanges, Registry and Settlement Houses of Europe as well as the European Commission.
Among others, the Code specifies the price transparency requirements that are in effect at every stage of trading and clearing, thus providing the necessary assistance to clients of Exchanges, Registries and Clearing Houses to understand and compare the services and corresponding charges. Furthermore, it eases the access and interoperability by forcing all trading platforms and clearing and settlement entities, as of June 30th 2007, to ease access and the conclusion of interoperability agreements with other corresponding organizations in the European Union.
Spyros Capralos, Athens Exchange Chairman, stated: "Athens Exchange, responding swiftly to the requirements of the Code of Conduct of which we were a co-signatory in Brussels, provides to the public, as of today, all necessary information through its website and in full conformance with the new requirements and developments that are taking place in the European Union. We are convinced that all capital markets will be in a position to successfully implement the Code, which will provide the basic impetus for the competitiveness of the European markets."