# Athens Stock Exchange
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{{Short description|Stock exchange of Greece}}
{{distinguish|text=[Golden Dawn (political party)](/source/Golden_Dawn_(political_party)), also abbreviated XA}}
{{Use dmy dates|date=February 2023}}
{{Infobox exchange
|name = Athens Stock Exchange (ATHEX)
|nativename = Χρηματιστήριο Αθηνών
|logo = 250px
|image = 250px
|type = [Stock Exchange](/source/Stock_Exchange)
[Bond market](/source/Bond_market)
[Derivatives market](/source/Derivatives_market)
|city = [Athinon Avenue](/source/Athinon_Avenue) 110, [Athens](/source/Athens)
|country = Greece
|coor =
|foundation = {{start date and age|1876|p=y}}
|owner = [Euronext](/source/Euronext) (74.3%)[{{Cite web|url=https://www.marketscreener.com/quote/stock/HELLENIC-EXCHANGES-ATHE-6259023/company/|title=HELLENIC EXCHANGES - ATHENS STOCK EXCHANGE S.A. : Shareholders Board Members Managers and Company Profile | GRS395363005 | MarketScreener|website=www.marketscreener.com|accessdate=22 February 2023}}]
|key_people = {{plainlist|
*George Handjinicolaou ([Chairman](/source/Chairman))
*Yianos Kontopoulos ([CEO](/source/CEO))
}}
|currency = [EUR](/source/Euro)
|commodity =
|listings = 153{{efn|153 stocks {{as of|2023|02|14|lc=y}}, including the 9 stocks of the Alternative Market (from 166 companies).}}[{{Cite web|url=https://www.athexgroup.gr/web/guest/stocks|title=Stocks - athexgroup.gr|website=www.athexgroup.gr|accessdate=23 September 2024}}]
|volume = €102.58 million{{efn|{{as of|alt=volume of Monday 23 September 2024|2024|09|23|lc=y}}}}[ It was founded in 1876. There are currently five markets operating in ATHEX: regulated securities market, regulated [derivatives](/source/derivative_(finance)) market, alternative market, [carbon market (for EUAs)](/source/emissions_trading) and [OTC](/source/Over-the-counter_(finance)) market.][{{cite web|url=http://www.helex.gr/en/web/guest/markets|title=Markets|work=helex.gr}}] In the regulated securities market investors can trade in [stock](/source/stock)s, [bonds](/source/Bond_(finance)), [ETFs](/source/Exchange-traded_fund) and other related [securities](/source/Security_(finance)). On the stock exchange 172 stocks are currently traded representing 166 companies. The Athens Stock Exchange is a member of the [Federation of Euro-Asian Stock Exchanges](/source/Federation_of_Euro-Asian_Stock_Exchanges).
Athens Stock Exchange fully owns the '''Athens Exchange Clearing House''' or '''ATHEXClear''', a [central counterparty clearing house](/source/central_counterparty_clearing_house), and '''ATHEXCSD''', a [central securities depository](/source/central_securities_depository).[{{cite web |website=European Central Securities Depositories Association |access-date={{date|2025-2-11}} |url=https://ecsda.eu/wp-content/uploads/2018/04/GR-ATHEXCSD.pdf |title=ATHEXCSD}}]
==History==
{{further|1999 Greek stock market crash}}
thumb|250px|The building in Sofocleous Street that used to accommodate the Athens Exchange until 2007
The Athens Stock Exchange started trading in 1876. Its day-to-day running has been assigned to ''Hellenic Exchanges – Athens Stock Exchange S.A.'', whose shares are listed on the exchange ({{Athex|EXAE}}). Athens Stock Exchange changed into public entity in 1918. In 1995 ASE was transformed into public limited company with the only shareholder – Greek state. Greek state sold 39.67% of the shares in 1997, and 12% in 1998 through private placement. State shares were decreased to 47.7% in 1999.[{{Cite web|url=http://www.helex.gr/helex-history|title=History - helex.gr|website=www.helex.gr|language=en-US|archive-url=https://web.archive.org/web/20150716142310/http://www.helex.gr/helex-history|archive-date=2015-07-16|url-status=dead|access-date=2018-05-29}}] The [derivatives](/source/derivative_(finance)) market started trading in August 1999 after Athens Derivatives Exchange (ADEX) and the Athens Derivatives Exchange Clearing House started operations.[{{cite book | url=https://books.google.com/books?id=YSt1CQAAQBAJ&q=Greek+Stock+Exchange+founded&pg=PA257 | title=Handbook of Research on Behavioral Finance and Investment Strategies ... | publisher=IGI Global | access-date=3 August 2015 | author=Zeynep Copur | date=31 January 2015 | pages=257| isbn=9781466674851 }}]
The Athens stock exchange was closed on 27 June 2015 because of the [Greek government-debt crisis](/source/Greek_government-debt_crisis).[{{cite news|last1=Udland|first1=Myles|title=REPORT: Greece's stock market will be closed for at least a week|url=http://www.businessinsider.com/kathimerini-reports-greek-stock-market-will-be-closed-for-a-week-2015-6|access-date=1 July 2015|work=[Business Insider](/source/Business_Insider)|date=28 June 2015}}] It reopened on 3 August 2015 and lost more than 16% in the day's trading with certain bank stocks plummeting 30%, the daily change limit.[{{cite web | url=https://finance.yahoo.com/news/greek-stock-market-bloodbath-exchange-112237193.html | title=Greek stock market bloodbath as exchange reopens | publisher=[AP](/source/Associated_Press) | date=3 August 2015 | access-date=3 August 2015}}][{{cite web|date=12 August 2015 | publisher=Athens Exchange Group| title=Market Holidays| access-date=12 August 2015|url= http://www.helex.gr/en/web/guest/market-securities-holidays }}]
On 23 August 2023, the company formed [EuroCTP](/source/EuroCTP) as a joint venture with 13 other bourses, in an effort to provide a [consolidated tape](/source/National_market_system_plan) for the [European Union](/source/European_Union), as part of the [Capital Markets Union](/source/Capital_Markets_Union) proposed by the [European Commission](/source/European_Commission).
On 1 July 2025, [Euronext](/source/Euronext) announced that it submitted a takeover offer in order to acquire Athens Stock Exchange.[{{cite web|title=Euronext submits offer for full takeover of Athens Stock Exchange|date=1 July 2025 |url=https://www.ekathimerini.com/economy/1274008/euronext-eyes-full-takeover-of-athens-stock-exchange/ }}] Discussions focused on a potential all-share deal valued at approximately $470 million.[{{Cite news |date=2025-07-01 |title=Euronext in talks to buy Athens Stock Exchange for $470 million |url=https://www.reuters.com/en/euronext-talks-acquire-athens-stock-exchange-2025-07-01/ |access-date=2025-07-30 |work=Reuters |language=en}}] On 19 November 2025, Euronext announced that its voluntary exchange offer for all ATHEX shares was successful, as it obtained a controlling stake of 74,3%, and therefore completed the acquisition of Athens Stock Exchange.[{{Cite web |title=Euronext announces the success of the voluntary share exchange tender offer to acquire ATHEX Group|url=https://www.euronext.com/en/about/media/euronext-press-releases/euronext-announces-success-voluntary-share-exchange-tender |date=19 November 2025}}] It is expected it will also be rebranded as '''Euronext Athens''' in due course.
==Location==
Until 2007, the exchange was located on [Sofocleous Street](/source/Sofokleous_Street), in the central business district of Athens. For this reason the Exchange and Sofocleous St became synonymous with each other. It is now located in its new headquarters at 110 [Athinon Street](/source/Athinon_Avenue), also called Kavalas Street. The exchange's trading hours are from 10:00am to 05:20pm Monday to Friday, and is closed on Saturdays, Sundays and holidays declared by the Exchange in advance.[[Market Hours, Athens Exchange via Wikinvest](/source/Wikinvest%3AList_of_Stock_Exchanges)]
==Operations==
ATHEX has over 30 [indices](/source/Stock_market_index). The six main indices are: Composite Index (''GD''), [FTSE/Athex Large Cap](/source/FTSE%2FAthex_Large_Cap) (''FTSE'', also known as ''FTSE 25''), FTSE/Athex Mid Cap Index (''FTSEM''), FTSE/Athex Market Index (''FTSEA''), FTSE/ATHEX Global Traders Index Plus (''FTSEGTI'') and FTSE/ATHEX Factor-Weighted Index (''FTSEMSFW'').[{{cite web|url=http://www.helex.gr/en/web/guest/indices|title=Indices – helex.gr|work=helex.gr}}]
The Athens Composite index started trading in 1980,[ its High 6355.04 set on 17 September 1999.
Companies listed on the exchange are regulated by the ''[Hellenic Capital Market Commission](/source/Hellenic_Capital_Market_Commission)''.][{{cite web
|url=http://www.hcmc.gr/photos/Annual_Reports/files/Annual_Report_2009.pdf
|title=ANNUAL REPORT 2009
|publisher=Hellenic Republic Capital Market Commission
|access-date=2011-06-07
|url-status=dead
|archive-url=https://web.archive.org/web/20111003112245/http://www.hcmc.gr/photos/Annual_Reports/files/Annual_Report_2009.pdf
|archive-date=2011-10-03
}}
]
As of 2 February 2021 on the Athens Exchange 166 companies[{{cite web| url=http://www.helex.gr/en/web/guest/companies-map/-/cmap/m/-1/2/ |title=Companies, All Markets – helex.gr |work=helex.gr|access-date=2021-02-02}}] are represented with 172 stocks.[{{cite web| url= http://www.helex.gr/en/web/guest/stocks/-/map/m/-1/6/ |title=Stocks, All Markets – helex.gr |work=helex.gr|access-date=2021-02-02}}] (from 157 companies) and the ''Alternative Market'' has 9 stocks (9 companies).[{{cite web| url= http://www.helex.gr/en/web/guest/stocks/-/map/c/30251/6/ |title=Stocks, Alternative Market– helex.gr |work=helex.gr|access-date=2021-02-02}}]
===Categories of stocks===
The stocks of the Securities Market are divided into three categories:
* ''Main Market'' (126 stocks from 124 companies){{efn|{{as of|2021|2|2}} }}{{efn|The [preferred stock](/source/preferred_stock)s LEVEP, XYLEP correspond respectively to the [common stock](/source/common_stock)s LEVEK and XYLEK.}}[{{cite web| url= http://www.helex.gr/en/web/guest/stocks/-/map/c/30283/6/ |title=Stocks, Main Market– helex.gr |work=helex.gr|access-date=2021-02-02}}]
* ''Surveillance'' (25 stocks from 22 companies){{efn|{{as of|2021|2|2}} }} {{efn|The [preferred stock](/source/preferred_stock) AAAP corresponds to the [common stock](/source/common_stock) AAAK and ANEP, ANEPO are preferred stocks of the companý that has ANEK as common stock.}}[{{cite web| url= http://www.helex.gr/en/web/guest/stocks/-/map/c/30228/6/ |title=Stocks, Surveillance– helex.gr |work=helex.gr|access-date=2021-02-02}}]
* ''Under Suspension'' (12 stocks from 11 companies){{efn|{{as of|2021|2|2}} }}{{efn|The [preferred stock](/source/preferred_stock) MPP corresponds to the [common stock](/source/common_stock) MPK.}}[{{cite web| url= http://www.helex.gr/en/web/guest/stocks/-/map/c/30229/6/ |title=Stocks, Under Suspension – helex.gr |work=helex.gr| access-date=2021-02-02}}]
For a list of the companies see: ''[List of companies listed on the Athens Exchange](/source/List_of_companies_listed_on_the_Athens_Exchange)''.
===Composite Index===
The Athens Exchange uses the symbol ''GD'' for the Composite Index.[{{cite web|url=http://www.helex.gr/en/web/guest/index-profile/-/select-index/17 |title=GD: Index overview |website=Helex.gr |access-date=19 April 2016}}
] The [Bloomberg code](/source/Bloomberg_L._P.) for this index is ''ASE'';[{{cite web| url=https://www.bloomberg.com/quote/ASE:IND|title=ASE Quote – Athens Stock Exchange General Index|work=Bloomberg.com}}] the [Reuters code](/source/Reuters) is ''.ATG''.[ The Composite Index was launched on 31 December 1980 ({{time ago|31 Dec 1980}})][ and has 60 constituents.][{{cite web|url=http://www.helex.gr/en/web/guest/index-composition/-/select-index/17 |title=GD: Index composition |website=Helex.gr |access-date=19 April 2016}}]
====Annual returns====
The following table shows the annual development of the Athens Composite Index since 1987.[{{Cite web|url=https://stooq.com/q/d/?s=^ath|title=^ATH - ATHEX Composite Index - Greece - Stooq|accessdate=22 February 2023}}]
{| class="wikitable sortable" style="text-align:right;"
!Year
!Closing level
!Change in index
in points
!Change in index
in %
|-
| 1987 || 272.47 || ||
|-
| 1988 || 279.65 || 7.18 || 2.64
|-
| 1989 || 459.43 || 179.78 || 64.29
|-
| 1990 || 932.00 || 472.57 || 102.86
|-
| 1991 || 809.71 || −122.29 || −13.12
|-
| 1992 || 672.31 || −137.40 || −16.97
|-
| 1993 || 958.66 || 286.35 || 42.59
|-
| 1994 || 868.91 || −89.75 || −9.36
|-
| 1995 || 914.15 || 45.24 || 5.21
|-
| 1996 || 933.48 || 19.33 || 2.11
|-
| 1997 || 1,479.63 || 546.15 || 58.51
|-
| 1998 || 2,737.55 || 1,257.92 || 85.02
|-
| 1999 || 5,535.09 || 2,797.54 || 102.19
|-
| 2000 || 3,388.86 || −2,146.23 || −38.77
|-
| 2001 || 2,591.56 || −797.30 || −23.53
|-
| 2002 || 1,748.42 || −843.14 || −32.53
|-
| 2003 || 2,263.58 || 515.16 || 29.46
|-
| 2004 || 2,786.18 || 522.60 || 23.09
|-
| 2005 || 3,663.90 || 877.72 || 31.50
|-
| 2006 || 4,394.13 || 730.23 || 19.93
|-
| 2007 || 5,178.83 || 784.70 || 17.86
|-
| 2008 || 1,786.51 || −3,392.32 || −65.50
|-
| 2009 || 2,196.16 || 409.65 || 22.93
|-
| 2010 || 1,413.94 || −782.22 || −35.62
|-
| 2011 || 680.42 || −733.52 || −51.88
|-
| 2012 || 907.90 || 227.48 || 33.43
|-
| 2013 || 1,162.68 || 254.78 || 28.06
|-
| 2014 || 826.18 || −336.50 || −28.94
|-
|2015
|631.35
|−194.83
|−23.58
|-
|2016
|643.64
|12.29
|1.95
|-
|2017
|802.37
|158.73
|24.66
|-
|2018
|613.30
|−189.07
|−23.56
|-
|2019
|916.67
|303.37
|49.47
|-
|2020 ||808.99 ||-107.68 || -11.75
|-
|2021 ||893.34 ||84.35 || 10.43
|-
|2022 ||929.79 ||36.45 || 4.08
|-
|2023
|1,293.14
|363.35
|39.08
|-
|2024
|1,469.67
|176.53
|13.65
|-
|2025
|2,120.71
|651.04
|44.30
|-
|}
== Management ==
Board of Directors oversees the activity of ATHEX. The Board consists of 13 members who are elected by the General Meeting of Shareholders for a 4-year term.[{{Cite web |title=Board of Directors - helex.gr |url=http://www.helex.gr/board-of-directors |access-date=2022-03-23 |website=www.helex.gr |language=en-US}}] The current Board was elected at the 20th general Meeting of Shareholders conducted on 31 May 2021.[{{Cite web |title=Press Release of 20th Annual General Meeting |url=https://www.athexgroup.gr/documents/10180/6156651/2021_05_31_ATHEX_PR_20th_AGM_EN.pdf/56c755f0-b332-4abd-a296-c51ffdbe052e |access-date=2022-03-23 |website=www.helex.gr}}] The chairman of the Board is George Handjinicolaou.[{{Cite news |last=Georgiopoulos |first=George |title=Greek stock exchange board picks Kontopoulos as new CEO |url=https://www.reuters.com/business/greek-stock-exchange-board-picks-kontopoulos-new-ceo-2022-01-22/ |access-date=2022-03-23 |website=Reuters |date=22 January 2022 |language=en}}]
==Notes==
{{notelist}}
==References==
{{reflist}}
==External links==
{{commons category|Athens Stock Exchange}}
* [https://www.athexgroup.gr/en/ Official website]
** [http://www.helex.gr/en/web/guest/stocks/-/map/m/-1/6 Stock prices and daily price changes] on the official website
* [https://xaaflix.blogspot.com/p/xaa-history-1980-present.html Athens Stock Exchange (ASE) Historical Data and Interactive Chart (1980–present)]
* [Hellenic Capital Market Commission](/source/Hellenic_Capital_Market_Commission): the [http://www.hcmc.gr/en_US/web/portal/home English language website]
{{World Federation of Exchanges}}
{{Athex 20 companies}}
{{Greece topics}}
{{coord|37|59|25|N|23|43|43|E|display=title}}
Category:Athens Exchange
Category:1876 establishments in Greece
Category:Finance in Greece
Category:Stock exchanges in Europe
Stock Exchange
Category:Economy of Greece
Category:Financial services companies established in 1876
Category:Greek brands
---
Adapted from the Wikipedia article [Athens Stock Exchange](https://en.wikipedia.org/wiki/Athens_Stock_Exchange) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Athens_Stock_Exchange?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.