{"id":3831,"date":"2018-03-22T14:11:49","date_gmt":"2018-03-22T12:11:49","guid":{"rendered":"http:\/\/syneggiitiko.gr\/?page_id=3831"},"modified":"2018-03-28T19:21:33","modified_gmt":"2018-03-28T16:21:33","slug":"guarantee-fund-coverage","status":"publish","type":"page","link":"https:\/\/www.syneggiitiko.gr\/en\/guarantee-fund-coverage\/","title":{"rendered":"GUARANTEE FUND COVERAGE"},"content":{"rendered":"

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1. The \u201cGuarantee Fund\u201d covers investor claims arising from transactions carried out within or outside regulated markets with regard to the covered main investment services and ancillary services mentioned in article 4 of the law 3606\/2007 provided to them by an Investment Services Provider SA (I.S.P. SA) pursuant to the license that the latter acquired by the Hellenic Capital Market Commission for the financial instruments provided for in article 5 of the law 3606\/2007, resulting from the I.S.P. S.A.\u2019s failure, which is ascertained by decision of the Hellenic Capital Market Commission, and placement in special financial liquidation status or declared bankrupt by court decision, a) to return to them the capital owed or which belongs to them, and which the I.S.P. SA holds on their behalf, or b) to return to the investors the financial instruments that belong to them and which the I.S.P. SA holds, manages or handles on their behalf.<\/p>\n

2. The Guarantee Fund covers the compensations of clients arising from the aforementioned investment services on the above financial instruments within the context of the I.S.P. SA\u2019s cross-border activity specified in articles 31 and 33 of the law 3606\/2007 (use of passport or establishment of branches).<\/p>\n

3a. The investment services covered by ASEMGF are those mentioned in paragraph 1 of article 4 of law 3606\/2007. In particular:<\/p>\n

a. Reception and transmission of orders, consisting in receiving and transmitting orders on behalf of clients for transactions in financial instruments,
\nb. Execution of orders on behalf of clients, consisting in acting to conclude agreements to buy or sell one or more financial instruments on behalf of clients;<\/p>\n

c. Dealing on own account, consisting in trading against proprietary capital resulting in the conclusion of transactions in one or more financial instruments;<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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d. Portfolio management, consisting in managing portfolios in accordance with mandates given by clients on a discretionary clientby-client basis where such portfolios include one or more financial instruments;
\ne. Underwriting of financial instruments and\/or placing of financial instruments on a firm commitment basis;<\/p>\n

f. Placing of financial instruments without a firm commitment basis;<\/p>\n<\/div>\n<\/div>\n

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3b. The investment service mention in paragraph 2(a) of article 4 of law\u00a03606\/2007. In particular: (a) Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash\/collateral management;<\/p>\n

4. Financial Instruments are those mentioned in article 5 of law 3606\/2007. In particular:<\/p>\n

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  • Transferable securities;<\/li>\n
  • Money-market instruments;<\/li>\n
  • Units in collective investment undertakings;<\/li>\n
  • Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash;<\/li>\n
  • Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event);<\/li>\n
  • Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market and\/or an MTF;<\/li>\n
  • Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in C.6 and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls;<\/li>\n
  • Derivative instruments for the transfer of credit risk;<\/li>\n
  • Financial contracts for differences;<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n
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    Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contracts relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Section, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular margin calls.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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