T2S Link Guide - Austria

06.02.2017

Key features

Yes/NoRemarks
Settlement free of paymentYes
Settlement against paymentYesEligible settlement currency: Euro (EUR).
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).
FATCA GIINYesOeKB CSD GmbH YS6GTM.00003.ME.040
Type of linkCSD or settlement method
Direct linkOeKB CSD GmbH

CBF-eligible security types

  • Government bonds;
  • Treasury bills;
  • Commercial Paper;
  • Domestic corporate bonds;
  • Foreign corporate bonds;
  • Bearer equities1;
  • Warrants;
  • Strips on government bonds.

Depository

OeKB CSD GmbH
Strauchgasse 1-3,
1010 Vienna
Austria

Cash correspondent details

Currency:Euro (EUR) via TARGET2
CCB name:Bundesbank
CBF account:RTGS account of a direct TARGET2 participant

Cash settlement in EUR will take place in T2S on DCAs which are maintained by Bundesbank or any other National Central Bank participating in T2S. Funding of these DCAs is done from the customers’ TARGET2 RTGS accounts.  In T2S, a DCA must be linked to one RTGS account in TARGET2 to which the remaining cash balances on the DCA is swept out at the End of Day (EoD). DCAs must have a zero balance at EoD. The link is only necessary for this purpose and various DCAs can be linked to one RTGS account.

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1. Clearstream Banking AG does not provide asset servicing for Austrian registered shares. This is an exception to the normal service.