ADT
The average daily turnover of a stock traded, in the sense of article 7 and Annex II of Commission Delegated Regulation (EU) 2017/587.18

Aggregate Lending Orders
The quantities of securities determined by the Algorithm for Allocation of Quantities and Interest Rates as quantities available for borrowing in the Securities Borrowing Market, on the basis of the Lending orders listed in the System, the lending rates as well as any other parameter referred to in a relevant decision of ATHEX.

ATHEXCLEAR
The public limited company with the legal name "Athens Exchange Clearing House S.A." and trade name "ATHEXClear", which performs the clearing of transactions on ATHEX.

ATHEXClear Members or Clearing Members
The Clearing Members of the Securities and Derivatives System under the management of ATHEXClear as determined in accordance with the Securities Clearing Rules in Book Form and the Derivatives Clearing Rules respectively. Wherever the Rulebook References Clearing Members, this term shall include both the Clearing Members of the Securities System and the Derivatives System, unless otherwise explicitly stated.

Athens Exchange (ATHEX)
The public limited company with the legal name 'Athens Exchange S.A.' which functions as a market operator in the sense of article 4, par. 18 of Law 4514/2018.23

Athens Exchange Transactions Network (ATHEX-Net)
The network operated by ATHEX to enable interconnection and communication between the System and Members and/or other persons having access to the System, including undertakings that are exempt from Directive 2014/65/EU and trade on their own account through immediate market access (SMA) or direct market access (DMA) mechanisms.

Bilateral debt securities - Bilateral lending or borrowing
Lending or borrowing contracts prepared in the Stock Lending Mechanism of ATHEX bilaterally (Methods 8-3-1, 83-2) by the same or between two different members of the system through registration in the System of the two respective orders for the lender and the borrower respectively, or, for orders introduced on behalf of the borrower, through its Matching to a Collective Lending Order, under the ATHEX Rulebook.

Cash Distribution
The distribution of cash by an Issuer to beneficiaries, especially in the form of a dividend, interim dividend, special and all other types of reserves, capital return, privilege interest, bond loan interest

Certified Trader
The natural person who has been certified by ATHEX to perform tasks on behalf of a Member relating to the execution of transactions on ATHEX Markets. Wherever reference is made in this Rulebook to a 'Certified Securities Trader' and a 'Certified Derivatives Trader', it shall refer to the Certified Traders for access to the Securities Market and the Derivatives Market respectively, including the Securities Lending Mechanism of ATHEX.

Covered sell order
A sell order entered in the System and activated for execution after the Transferable Securities to which it relates have first been blocked in the DSS in favour of ATHEXClear and for this reason does not require a credit limit for its entry.

Covered sell
The selling of Transferable Securities on the basis of a covered sell order, on the Securities Market by any Method except Method 6.

Communication System
The ATHEX-approved 'HERMES' system or any other communication system stipulated by decision of ATHEX, through which issuers fulfill their obligations regarding the dispatch of the required information to ATHEX in accordance with the provisions of the Rulebook

Consultant
A Consultant in the sense of article 1, par. 2 (a) of decision 3/460/10.1.2008 of the Hellenic Capital Market Commission.

CSD (Central Securities Depository)
The public limited company with the legal name "Hellenic Central Securities Depository" which acts as Administrator of the DSS and the Central Securities Depository in accordance with provisions in force, particularly Law 3756/2009.

Daily Official List or D.O.L.
The daily official list of ATHEX, as issued and kept by ATHEX in electronic or other format, in which the details required by legislation in force and the Rulebook are published, along with any other details deemed necessary by ATHEX.

Decision
Any decision issued in implementation of the Rulebook by the Board of Directors of ATHEX or any other duly authorized body of ATHEX and posted on the ATHEX website.

Dematerialized Securities System (DSS)
The computer - operating system for the registration and monitoring of transferable securities in book form, the monitoring of changes thereto and the overall execution of actions and procedures provided for by Law 3756/2009 and the DSS Regulations, which is managed by the CSD. Entries in the DSS are considered entries in the records of the CSD.

Derivatives
The derivative instruments in the sense of article 4, par. 49 of Law 4514/2018, which are from time to time admitted to trading or are listed on the Derivatives Market of ATHEX in accordance with the terms of this Rulebook

Direct Market Access (DMA)
The direct electronic access in the sense of article 4, par. 41 of Law 4514/2018 and of article 4, par. 1 (41) of Directive 2014/65/EU by means of which a Trading Member permits a client to use the trading code that the Member has provided to the client, in accordance with the terms hereof, so that the client can electronically transmit orders directly to the Market, and which includes arrangements whereby the aforesaid transmission by the client takes place without the latter using the infrastructure of the Member.

DSS Regulations
The Regulations governing the operation of the Dematerialized Securities System, drawn up pursuant to decision 3/304/10.6.2004 of the Board of Directors of the Hellenic Capital Market Commission as in force.

ETF Issuer
In the case of Greek traded funds, this shall be the Soci?t? Anonyme managing the Traded Funds pursuant to law 3283/2004 and in the case of foreign traded funds, the Management Company as provided in the Council Directive 85/611/EEC.

ETF units
The units of the ‘Exchange-Traded Funds Segment' of the ATHEX Securities Market.

Financial Instruments
Financial instruments in the sense of Section C, Annex I of Law 4514/2018, which are from time to time admitted to trading or are listed on a Market of ATHEX.

High-Frequency Algorithmic Trading Technique
The technique used for high-frequency algorithmic trading in the sense of article 4, par. 40 of Law 4514/2018 and of article 4, par. 1 (40) of Directive 2014/65/EU which relates to Algorithimic Trading on ATHEX and is implemented through the use of ATHEX infrastructures and systems in accordance with the terms of the Rulebook.

Issuer
The person who lists securities on the ATHEX Securities Market.

Lending or borrowing contracts
The lending or borrowing contracts or transactions functioning as securities financing, which are concluded multilaterally in the Securities Lending Mechanism of ATHEX (Methods 8-1, 8-2, 8-3-3) in accordance with the terms of the Rulebook.

Lending or borrowing members
Members and Operators involved in transactions in the Securities Lending Mechanism of ATHEX as provided in the Rulebook.

(Market) Members
An Investment firm or credit institution participating in the ATHEX Market to conduct transactions in financial instruments traded thereon in accordance with the provisions of this Rulebook.

Market Maker
A Member that is active in ATHEX Markets on a continual basis and undertakes to trade for own account, buying and selling Financial Instruments negotiable thereon for shareholders' equity at prices that it itself has set, in accordance with the provisions of the ATHEX Rulebook.

Market or Regulated Market
Each regulated market of article 4, par. 21 of Law 4514/2018 whose market operator is ATHEX and for which ATHEXClear is responsible for clearing. Where reference is made in the Rulebook to the Securities Market and Derivatives Market, it means the regulated markets of ATHEX with Transferable Securities and Derivatives as their trading object, respectively, as these have been licensed in accordance with the provisions of article 98, par. 5 of Law 4514/201

Offeror
The offeror within the meaning of article 2, par. 1 (j) of Law 3401/2005.

Operator
The Operator in the DSS within the meaning of the DSS Regulations.

Order depth
The total, by Order Book, number of Orders and Financial Instruments, which these orders represent at each price level, with respect to the best levels of purchase and offer prices, as these are set by ATHEX from time to time and published via the System.

Order Book
The electronic record that is created in the System for each ATHEX Market and for each type of negotiable Financial Instrument in those markets, and in which orders for trades in such instruments are registered.

Rulebook for Clearing Transactions in Book-Entry Securities
The Rulebook issued by ATHEXClear in accordance with article 73, par. 3 of Law 3606/2007 and the relevant decision of approval of the Hellenic Capital Market Commission, on the basis of which transactions are cleared in the Securities Market and in any other transferable securities market stipulated therein.

Rulebook for Clearing Derivatives Transactions
The Rulebook issued by ATHEXClear in accordance with article 73, par. 3 of Law 3606/2007 and the relevant decision of approval of the Hellenic Capital Market Commission, on the basis of which transactions are cleared in the Derivatives Market, in the Securities Lending Mechanism and in any other market stipulated therein.

Rulebook or ATHEX Rulebook
This Rulebook governing the operation of ATHEX Regulated Markets, which is drawn up by ATHEX pursuant to the provisions of article 47, Law 4514/2018. Any reference to the term Rulebook herein also includes the Decisions issued from time to time in implementation thereof.

Securities lending contracts
The lending or borrowing contracts and the bilateral lending or borrowing transactions concluded in the Securities Lending Mechanism of ATHEX in accordance with the provisions of the Rulebook.

Security lending products
The standard terms of securities lending contracts in the Securities Lending Mechanism of ATHEX

Sponsored Market Access (SMA)
The direct electronic access in the sense of article 4, par. 41 of Law 4514/2018 and of article 4, par. 1 (41) of Directive 2014/65/EU by means of which a Trading Member permits a client to use the trading code that the Member has provided to the client, in accordance with the terms hereof, so that the client can electronically transmit orders directly to the Market, and which includes arrangements whereby the client makes use of the infrastructure of the Member or of any connecting system with the Market which is provided by the Member for the transmission of orders to the Market.

Securities Lending Mechanism
The mechanism managed by ATHEX through which Securities lending contracts are concluded in the sense of article 3, par. 11, item (b) of Regulation (EU) 2015/2365, in accordance with this Rulebook, and which are cleared by ATHEXClear in accordance with the Rulebook for Clearing Derivatives Transactions.

Structured Financial Products (SFPs)
Transferable securities in the sense of article 4, par. 44 (c) of Law 4514/2018 to which reference is made in this Rulebook and which are to be admitted or are already listed on the ATHEX Securities Market in accordance with the terms of this Rulebook.

System
The Integrated Automated Electronic Trading System (OASIS) and any other electronic system or application used by ATHEX and through which transactions are performed on ATHEX Markets or in the Securities Lending Mechanism of ATHEX in accordance with the terms of this Rulebook and the relevant procedures of ATHEX.

Trading Calendar
The calendar that shows the days of trading on the Regulated Markets of ATHEX, as issued and published by ATHEX in accordance with the provisions of this Rulebook. Wherever reference is made in this Rulebook to 'business days', 'trading days' or 'session days', it shall refer to the days listed in the aforesaid calendar.

Transferable Securities
Securities in the sense of article 4, par. 44 of Law 4514/2018 and article 1, par. 3 of Law 3371/2005, which are admitted to trading or are listed in the Securities Market of the Athens Exchange in accordance with this Rulebook, or securities which are the underlying asset of a Derivative in the Derivatives Market of ATHEX, as the case may be.16 Unless otherwise expressly stipulated in this Rulebook, 'Transferable Securities' include, where applicable, the units of Exchange-Traded Funds (ETFs).

Trading currency
The currency in which financial instruments are traded on a Market.

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ATHEXClear
The public limited company under the name Athens Exchange Clearing House SA and trading under ATHEXClear, acting as a central counterparty (CCP), within the meaning of Regulation (EU) No 648/2012 and System Operator under Law 3606/2007 regarding the clearing of transactions in accordance with the provisions in the Rulebook. 

ATHEXCSD
ATHEXCSD shall mean such public limited company as shall act as DSS Administrator and Central Securities Depository under applicable law and in particular Law 3756/2009, and has the name "Hellenic Central Securities Depository SA".  

Board
The Board of Directors of ATHEXClear functioning in accordance with applicable provisions, in particular Law 2190/1920, Regulation (EU) 648/2012 and Law 3606/2007, and in general the statutory provisions governing ATHEXClear.

The account and any form of subaccount of such account held with a Settlement Agent for ATHEXClear, ATHEXCSD, Clearing Members or other Operators in accordance with this Rulebook and is used for the conduct of the cash settlement of transactions.

Cash Settlement Agent
Central Bank or other payment or settlement system operator under Law 2789/2000 and Directive 98/26/EC or credit institution under Law 4261/2014 and Directive 2013/36/EU through which the cash settlement of transactions cleared by ATHEXClear are settled in accordance with the terms hereof and the relevant settlement procedures.

Certified Clearer
The natural person who has been certified by ATHEXClear to perform clearing and settlement operations at a Clearing Member.

Clearing Account
Own Clearing Account, Clients Clearing Account, and Client Clearing Account. Wherever in this Rulebook reference is made to the term Clearing Account, in the singular or plural, it shall mean all of the above Clearing Accounts, or each one, as appropriate, unless otherwise expressly stated.

Clearing Member
An Undertaking, in particular within the meaning of Law 3606/2007 and Directive 2004/39/EC, providing Investment Services or credit institution involved in the System for the clearing and settlement of transactions cleared by ATHEXClear and who is responsible vis-a-vis ATHEXClear to fulfill any obligations arising from this participation in accordance with the terms hereof. Where reference is made in this Rulebook to the term "Clearing Members", in the singular or plural, this shall mean both Direct Clearing Members and General Clearing Members, as defined in the Rulebook or each one, as appropriate, unless otherwise expressly stated. 

Clearing Subaccount
The Own Clearing Subaccount, Clients Clearing Subaccount and Client Clearing Subaccount. Wherever in this Rulebook reference is made to the term Clearing Subaccount, in the singular or plural, it shall mean all of the above Subaccounts, or each one, as appropriate, unless otherwise expressly stated.

Client
An undertaking having a contractual relationship with a Clearing Member, which enables the undertaking to clear its transactions with ATHEXClear in accordance with provisions in force and the stipulations of the Rulebook.

Client Clearing Account
The account held by a Clearing Member in the name of a Client in the System to clear its Client's transactions in accordance with the terms hereof.

Client Clearing Subaccount
Clearing Account of the Client Clearing Account of a Clearing Member held in the System for purposes of registration and allocation of the Credit Limit of the relevant Clearing Account in accordance with the terms hereof.  

Clients Clearing Account
The Direct Clients Clearing Account and the Indirect Clients Clearing Account, as the case may be. Unless otherwise specified in this Rulebook, any reference to the term 'Clients Clearing Account' shall be to the Direct Clients Clearing Account and the Indirect Clients Clearing Account jointly.

Clients Clearing Subaccount
The Clearing Subaccount of a Direct Clients Clearing Account or the Clearing Subaccount of an Indirect Clients Clearing Account of a Clearing Member as the case may be. Unless otherwise stipulated in this Rulebook, any reference to the term 'Clients Clearing Subaccount' shall be to the Direct Clients Clearing Subaccount and the Indirect Clients Clearing Subaccount jointly.

Clients Position Account
The account in the System associated with a Clients Clearing Subaccount of the Clearing Member through which positions of the Intermediary's clients arising from transactions conducted under the Market Rulebook pursuant to the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member.

Credit Limits
The prefunded limits set by ATHEXClear to Clearing Members in connection with the possibility of Market Members entering orders and making transactions in the Market by the Market Members participating in it pursuant hereto.

Data Sheet
The sheet kept daily by the Clearing Member per client in a durable medium that guarantees safe keeping, with all data and information in relation to the clearing and settlement of transactions and positions of the client, including but not limited to outstanding transactions and positions of the client in connection with the clearing procedures, as they arise at the end of each clearing day and risk calculation in accordance with the terms hereof, the performance rights and obligations of the client in connection with these positions, the collateral provided by the client, the transactions on and records of the client's accounts in relation to the clearing and settlement of transactions, as well as any other relevant information that ATHEXClear may decide to specify, also establishing any relevant technical term in relation to implementation.

Dematerialized Securities System (DSS)
The system for keeping transferable securities in book entry form that is managed by the ATHEXCSD as Central Securities Depository and DSS Administrator pursuant to applicable provisions, in particular Law 3756/2009 and the DSS Regulation.

Derivatives or Derivatives transactions (contracts)
Financial instruments listed in Annex I Section C points 4-10 of Directive 2004/39/EC, as implemented in Articles 38 and 39 of Commission Regulation (EC) No 1287/2006, which have been or are admitted in a Derivatives Market and cleared by ATHEXClear under the terms of the Rulebook. 

Derivative Series
Class of listed derivative, determined in particular on the basis of the underlying security, on the date of expiration of a specified time limit or on the basis of the exercise price.

Direct Clients Clearing Account
The account held by a Clearing Member in the System for its direct clients for clearing the transactions of the relevant clients in accordance with provisions in force and the stipulations of the Rulebook.

Direct Clients Clearing Subaccount
The Clearing Subaccount of a Direct Clients Clearing Account of a Clearing Member, which is held in the System for the purpose of registering and allocating the Credit Limit of the relevant Direct Clients Clearing Account in accordance with the provisions of the Rulebook.

Default Fund
The pre-funded fund operating under Regulation (EU) No 648/2012 and Law 3606/2007 managed by ATHEXClear to protect the system from credit risks of Clearing Members, as such risks arise from clearing, under the terms of this Rulebook.

Depository Receipts Market Maker Position Account
The account in the System associated with the Clearing Subaccount of the Clearing Member through which Warrants Market Maker positions arising from market making transactions in accordance with the ATHEX Rulebook pursuant to the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member. 

DSS Regulation
The Regulation governing the Operation of the DSS drawn up pursuant to Resolution No 3/304/10.6.2004 of the Board of Directors of the HCMC as in force. 

Derivatives Market
The Derivatives Market of ATHEX which has been duly licensed by the Hellenic Capital Market Commission, operates in accordance with the provisions of the Athens Exchange Rulebook and is governed by national law, whose transactions are cleared by ATHEXClear in accordance with provisions in force and the stipulations set out herein. Wherever in this Rulebook the term 'Derivatives Market' is referred to in the singular or plural, such reference shall be to both or either of the aforesaid markets as appropriate, unless otherwise expressly stated.

Derivatives Market Maker Position Account
The account in the System associated with the Clearing Subaccount of the Clearing Member through which Derivatives Market Maker positions arising from market making transactions in accordance with the Market Rulebook pursuant to the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member.

ETF Market Maker Position Account
The account in the System associated with the Clearing Subaccount of the Clearing Member through which Market Maker positions, ETFs arising from market making transactions in accordance with the ATHEX Rulebook pursuant to the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member.

Indirect Clients Clearing Account
The account held by a Clearing Member in the System exclusively for the clients of Clients (indirect clients), where Clients are investment firms or credit institutions, for clearing the transactions of the relevant clients in accordance with Commission Delegated Regulation (EU) 2017/2154 and the provisions of the Rulebook.

Indirect Clients Clearing Subaccount
The Clearing Subaccount of an Indirect Clients Clearing Account of a Clearing Member which is held in the System for the purpose of registering and allocating the Credit Limit of the relevant Indirect Clients Clearing Account in accordance with the provisions of the Rulebook.

Intermediary
An Undertaking providing Investment Services or a credit institution within the meaning of Law 3606/2007 and Directive 2004/39/EC conducting, through Market Members, Rulebook for Clearing Derivatives Transactions SECTION I. DEFINITIONS - GENERAL PROVISIONS transactions in its own name but on behalf of clients, the positions resulting from which are held through Client Position Accounts under the terms of the Rulebook.

Investor
A natural or legal person or other legal arrangement that has, under the law that governs it, trading capacity, including but not limited to mutual funds or funds according to applicable provisions, for which an Investor Position Account is kept pursuant to the terms hereof.

Investor Position Account
The account in the System associated with a Clients or Client Clearing Subaccount of the Clearing Member through which positions for the Investor arising from transactions conducted pursuant to the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member. For the purposes of determining the Investor Position Account corresponding to a Client Clearing Subaccount and Client Clearing Account, the Investor shall be taken to be the Client. 

Margin
The margin defined in Regulation No 648/2012 and Commission Delegated Regulation (EU) 153/2013, provided to ATHEXClear to secure their respective obligations vis-a-vis the latter, as they result by Clearing Account in accordance with the terms hereof.

Market
The Derivatives Market and the Securities Lending Mechanism. Wherever in this Rulebook the term Market is referred to in the singular or plural, it shall mean all of these markets or each one, as appropriate, unless otherwise expressly stated.   

Member Error Position Account
Account in the System linked to Clearing Subaccount of the Clearing Member through which positions arising from transactions of erroneous execution of orders of a Market Member, as conducted based on the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member.

Market Maker Position Account
The account in the System associated with the Clearing Subaccount of the Clearing Member through which Market Maker positions arising from market making transactions in accordance with the ATHEX Rulebook pursuant to the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member.

Market Member
An Undertaking providing Investment Services or a credit institution participating in the Market for trades under the Rulebook of such Market. 

Market Operator
The public limited company "Hellenic Exchanges - Athens Exchange S.A." (Athens Exchange or ATHEX) which administers the Derivatives Market of ATHEX and whose transactions are cleared by ATHEXClear in accordance with provisions in force and the stipulations set out herein.

Market Rulebook
The Athens Exchange (ATHEX) Rulebook of Law 3606/2007 with regard to the Derivatives Market and the Securities Lending Mechanism of ATHEX.

Member Position Account
Derivatives Market Maker Position Account, Market Maker Position Account, ETF Market Maker Position Account, Structured Products Market Maker Position Account, Warrants Market Maker Position Account, Securities Market Position Account, Operator Position Account, and Member Error Position Account. Wherever in this Rulebook reference is made to the term Member Position Account it shall mean all of the above Position Accounts, or each one, as appropriate, unless otherwise expressly stated. 

Non-Clearing Member
A Market Member that does not have the capacity of a Clearing Member and cooperates, for the clearing of the transactions it conducts on the Market, with at least one General Clearing Member in accordance with the terms hereof.

Operator
An Undertaking providing Investment Services or a credit institution within the meaning of Law 3606/2007 and Directive 2004/39/EC conducting the aggregate execution of client orders in managing client portfolios pursuant to applicable provisions.

Operator DSS
The DSS Operator within the meaning of the DSS Regulation involved in transaction settlement procedures in accordance with the terms hereof Rules and the DSS Regulation.

Operator Account
The Securities Account Operator Account used by the Operator in the DSS under the DSS Regulation.

Operator Position Account
Account in the System linked to Clearing Subaccount of the Clearing Member through which positions arising from transactions of centralized execution of orders of the Operator, which have not been allocated to its clients' Trading Codes, as conducted based on the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member. 

Own Clearing Account
The account held by a Clearing Member in its name in the System to clear its own transactions in accordance with the terms hereof. 

Own Clearing Subaccount
Clearing Account of the Own Clearing Account of a Clearing Member held in the System for purposes of registration and allocation of the Credit Limit of the relevant Clearing Account in accordance with the terms hereof.

Own Position Account
The account in the System associated with an Own Clearing Subaccount of the Clearing Member through which own positions of the Clearing Member arising from transactions conducted pursuant to the Credit Limit of the relevant Own Clearing Subaccount, are registered as declared by the Clearing Member. The above own positions shall not include any positions that may be held by the Clearing Member and registered in a Member Position Account of the Clearing Member in accordance with the terms hereof.

Position Account
Own Position Account, Derivatives Market Maker Position Account, Market Maker Position Account, ETF Market Maker Position Account, Structured Products Market Maker Position Account, Warrants Market Maker Position Account, Securities Market Position Account, Clients Position Account, Operator Position Account, Member Error Position Account, and Investor Position Account. Wherever in this Rulebook reference is made to the term Position Account it shall mean all of the above Position Accounts, or each one, as appropriate, unless otherwise expressly stated.

Position Limit
The limit set by ATHEXClear to Clearing Members as to the possibility of opening a position or keeping a position from transactions as provided for in the Rulebook.

Risk Committee
The committee that is composed of representatives of Clearing Members, independent members of the Board of ATHEXClear and representatives of its clients, as specified by the terms of this Rulebook. Such committee functions in accordance with the terms hereof and the provisions set out in Regulation (EU) No 648/2012.

Rulebook
The current Rulebook for Clearing Derivatives Transactions prepared by ATHEXClear in accordance with applicable provisions. Where reference is made in this Rulebook to the term Rulebook, this shall also mean the Resolutions adopted in implementing the Rulebook.

Share Accounts (DSS)
The Share Accounts held with the DSS in accordance with the DSS Regulation, such as, in particular, the Investor Share Account, the Common Investor Share Account, the Member Share Account and, the various forms of Market Maker Share Accounts. Wherever in this Rulebook reference is made to the term Share Account within the meaning of the DSS Regulation, this shall mean a Share Account in the DSS regardless of class, unless otherwise expressly stated.

Securities Account
The Securities Account of a DSS Share Account within the meaning of the DSS Regulation, including the Special Account and the Interim Accounts in accordance with the above Regulation. Wherever in this Rulebook reference is made to the term Securities Account, this shall mean the Securities Account of a DSS Share Account regardless of class.

Securities lending or borrowing
The lending or borrowing of securities or the sale or purchase of securities under buy back or sell back agreements as arising from the transactions on securities lending products in the Securities Lending Mechanism of ATHEX.

Securities Lending Mechanism
The ATHEX Securities Lending Mechanism which operates in accordance with the ATHEX Rulebook as a form of securities financing, notably as securities lending or contract of sale or purchase of securities under a buy back or sell back agreement, within the meaning of Article 2(10) of Commission Regulation (EC) No 1287/2006 and is governed by national law and whose transactions are cleared by ATHEXClear as provided for in the Rulebook.

Securities Lending Products
Securities financing transactions, notably transactions involving security lending or purchase or sale under buy back or sell back agreements within the meaning of Article 2(10) of Commission Regulation (EC) No 1287/2006 carried out in the Securities Lending Mechanism and cleared by ATHEXClear as provided for in the Rulebook. 

Securities Market
The regulated Securities Market of ATHEX operating in accordance with the provisions of the ATHEX Rulebook and the Alternative Market operating in accordance with the Alternative Market Operating Rules, which have been duly licensed by the Hellenic Capital Market Commission, are governed by national law and whose transactions are cleared by ATHEXClear in accordance with the Rulebook for Clearing Transactions in Book-Entry Securities

Securities Market Member
An Undertaking providing Investment Services or a credit institution participating in the Securities Market for trades under the rules governing the functioning of the Market. 

Securities Market Member Position Account (fail trades)
Account in the System linked to the Clearing Subaccount of the Clearing Member through which positions of the clearing member in the clearing system of the Securities Market arising from securities lending transactions conducted in the Securities Lending Mechanism to cover fail trades in the Securities Market based on the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member. 

Securities Settlement Account
The account held by the Operator in the DSS or, where appropriate, in another equivalent system for the settlement of transactions on securities in accordance with the terms hereof. For the purposes of the Rulebook, Operator Accounts in the DSS shall be considered Securities Settlement Accounts. 

Special Own Resources
The amount made available by ATHEXClear to cover Clearing Member default which is used after the use of its share account in the default fund to cover and before making use of shares accounts in the Default Fund of non-default Clearing Members in accordance with the terms hereof. 

Structured Products Market Maker Position Account
The account in the System associated with the Clearing Subaccount of the Clearing Member through which Structured Products Market Maker positions, ETFs arising from market making transactions in accordance with the ATHEX Rulebook pursuant to the Credit Limit of the relevant Clearing Subaccount, are registered as declared by the Clearing Member.

System
The system for clearing transactions on Derivatives managed by ATHEXClear and which is governed by national law, through which ATHEXClear, as central counterparty and System administrator, pursuant to applicable provisions, clears trades on the Derivatives Markets as specified herein. The above definition also includes the operation of the OASIS electronic clearing system. This shall also include such technical and support procedures as are linked to it and which ATHEXClear employs for clearing purposes following the procedures it has in place. 

Transferable Securities
Such transferable securities as are, in respect of a Derivative Trading Code: The trading code handled by a Market Member for each Market to trade in the Market as specified in each case in the Market Rulebook.

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