The introduction of derivatives will be the next step towards the modernisation of the Athens Stock Exchange and the creation of a new competitive capital market.
The report prepared by the ad hoc committee set up by the Ministry of National Economy has been completed and will be the basis for the new bill. The proposals aim at the creation and development of new banking products and will pave the way for an appropriate institutional framework which will facilitate the introduction of the products selected and ensure the smooth operation of the capital market in practice.
The new products will include futures and options. In particular the introduction of stock index futures, interest rate futures, stock index options and interest rate options will be a major innovation which will bring in line the Athens Stock Exchange with the other major EU stock exchanges.
Athanassios Vamvoukos, Bahas, Gramatidis & Associates, Athens, Greece
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Recent Banking Law Developments - Derivatives
