T2S Link Guide - Austria

24.07.2018

Key features

CSD link as defined under CSDRa

Yes

Type of link

Direct

a. CSD Regulation (EU) No 909/2014 art. 2 (29)

 

CSD

Name

OeKB CSD GmbH

FATCA GIIN

YS6GTM.00003.ME.040

LEI

529900UXJ594WXFBTF87

Country of incorporation

Austria

Account type

Omnibus account

Legal Account name / holder

Clearstream Banking AG

Operational arrangements

Yes/NoRemarks
Settlement in T2SYes
Settlement free of paymentYes
Settlement against paymentYesEligible settlement currency: Euro (EUR).
Settlement against payment in central bank money account of CBF customerYes
Partial settlementYes
Settlement penalty feesYesThere 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 + EUR 350 handling fee.
Pre-matchingYes 
Hold and releaseYes 
Linked instructionsYes
AllegementsYes 
Automatic compensationYes
Registered securitiesYes                                        . 
Market claimsYes 
TransformationsYes
Lending and borrowingNo 
Proxy votingYes 
Investment FundsNo 
Sale and purchase of rightsNo 
Repo servicesNo 
Market restrictionsNo 
FTTNoAustria is among the European Union (EU) Member States that have requested participation in enhanced cooperation with regards to a proposed EU Financial Transaction Tax (FTT).
Link eligible for use in Eurosystem credit operationsYes
Daily reconciliationYes
Bilateral cancellation Yes
Settlement finalitySettlement in T2S is simultaneous, final and irrevocable.

Legal arrangements

The below section is based on the legal opinion obtained by CBF that was issued on 16 May 2018. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.

No insolvency proceedings against the  CSD

Confirmed

Liability for negligence

Confirmed

Book-entry regime with in rem rights

Confirmed

Recognition as direct CSD account-holder

Confirmed

Recognition of nominee concept

Confirmed

No right of retention for the CSD

Confirmed

Segregation of assets at the CSD

Confirmed

No right of use

Confirmed

No upper-tier attachments

Confirmed

Insolvency of CSD with no impact on CBF's rights 

Confirmed, except for cash.
CBF holds non-EUR cash accounts at OeKB in order to receive income proceeds on non-EUR currencies.

Shortfall pro-rated among holders

Confirmed

Settlement finality in case of insolvency

Confirmed