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Trading According to decision 48/25.7.2000 session of Board of Directors, each Derivatives Market and ADECH Member provides collateral in favour of ADECH for the fulfillment of its obligations to it. ADECH is entitled to use the collateral provided by the Member in order to satisfy payable claims against the Member at any time it deems appropriate. The minimum collateral, which shall be provided to ADECH, is: Capacity Minimum Value Derivatives Market (Trading) Members, Non Clearing Members of ADECH EUR 293.470,29 Direct Clearing Members of ADECH EUR 1.467.351,43 General Clearing Members of ADECH EUR 2.934.702,86 The ADECH Member is also liable to pay a secondary variable collateral, the value of which is from time to time determined by ADECH on the basis of the total open interests of the clearing accounts of the clients represented in the clearing. The assets that will be accepted as collateral are displayed in the following table: Asset Type Percentage on Market-to-Market Value Deposits in Euro in a Margin Bank 100% Deposits in USD in a Margin Bank 95,75% Letters of credit on first demand 100% Short term bonds up to 3 years and bonds of variable intterest rate, irrespective of duration 88% Medium term bonds expiring in 3 to 9 years 83% Long term bonds expiring 9 years and beyond 75% ADECH shall accept letters of credit provided by credit institutions lawfully operating in Greece. ADECH shall not accept letters of credit provided by credit institution for the fulfillment of its own obligations. The highest bond valuation is made on the clean price of the bond as it is announced by the Electronic Trading System of Dematerialised Securities of the Bank of Greece (ETDS).