ESMA agrees to further renewal of short selling ban by Greek HCMC

The short selling prohibition of Greek credit default swaps originally imposed by the Hellenic Capital Market Commission (HMCM) under the Short Selling Regulation on Monday, July 6th has been renewed as you can read below in a notice from the European Securities and Markets Authority (ESMA).

The ban will take effect at 00:00:01 hours (CET) 14 July 2015 and remain in place until 24:00:00 (CET) on 20 July 2015 and temporarily prohibits transactions in any financial instrument that creates, or increases, a net short position on any of the shares admitted to trading on the Athens Exchange and Multilateral Trading Facility “EN.A”.

ESMA considers that adverse developments which constitute a serious threat to market confidence in the Greek market still persist and that the proposed measure is appropriate and proportionate to address the above mentioned threats.

Click here for the official opinion notice.

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