Creation Link Guide - Austria

16.05.2017

Key features

Yes/No

Remarks

Settlement in T2S

Yes

Settlement free of payment

Yes

 

Settlement against payment

Yes

Eligible settlement currencies: Euro (EUR), Swiss Franc (CHF), British Pound (GBP),  U.S. Dollar (USD).

Settlement penalty fees

Yes

There is a table outlining the penalties that maybe charged for late delivery by the Austrian Securities Authority. Generally it is 0.5% of market value and buy in costs plus EUR 350 handling fee.

Partial settlement

Yes

 

Bridge settlement

Yes

 

Hold and Release

Yes

Allegements

Yes

 

Transaction Linking

Yes

Bilateral Cancellation

Yes

Registered securities

Yes

According to the provisions of the amendment to the Austrian Company Act (AktG) passed in 2011 (GesRÄG 2011), shares should as a rule be registered shares (Section 9 (1) AktG (Corporate Law)). The following exceptions apply:

  • Bearer shares are exceptionally allowed for Stock Exchange listed companies or when the corporate statutes provide for the shares being listed at a Stock Exchange.
  • A company whose shares were traded on the Third Market on 1 August 2011 is considered for the duration of the inclusion of the shares in the Third Market as a Stock Exchange listed company.

Transaction Management

Yes

 

Multi Market Securities

Yes

Limited to transfers to and from T2S Out CSDs.

Lending and borrowing

Yes

Debt securities only.

Proxy voting

No

 

Investment Funds

Yes

Only investment funds that are eligible in OeKB CSD GmbH and T2S

Liquidity Hub Connect

No

 

Sale and purchase of rights

Yes

Manual.

Repo services

Yes

 

Market restrictions

Yes

FTT

No

Austria is among the European Union (EU) Member States that have requested participation in enhanced cooperation with regard to a proposed EU Financial Transaction Tax (FTT).

FATCA GIIN

Yes

Erste Group Bank AG
L99T2F.00000.LE.040

OeKB CSD GmbH
YS6GTM.00003.ME.040

Miscellaneous

No

 

Type of linkCSD or settlement method
Direct link, account operated by Erste Bank der österreichischen Sparkassen AGOeKB CSD GmbH