Austria: Reminder - Change to Settlement instruction formats

Further to our announcement A15170, dated 21 August 2015, Clearstream Banking¹ reminds customers that effective

14 September 2015

the Austrian CSD, Österreichische Kontrollbank AG (OeKB AG) is decoupling its CSD services from its additional business services, via the establishment of a new legal entity, OeKB CSD GmbH.

This is in response to the EU Central Securities Depositories Regulation (regulation No. 909/2014), that came into force on 17 September 2014.

Impact on customers

Customers are requested to use the following in their instructions for the Austrian market:

• BIC of new Austrian CSD: OCSDATWWXXX
• Place of Settlement of new Austrian CSD: OCSDATWWXXX
• Data Source Scheme for new Austrian CSD: OCSD

The new PSET BIC and new Data Source Scheme should be used in the following formats:

SWIFT

:95P::PSET//OCSDATWWXXX
:95R::DEAG/OCSD/2XXX00^a
or
:95P::DEAG//Counterparty’s BIC

CreationOnline

a. The counterparty's 6-digit safekeeping account number at OeKB.

Cutover migration weekend

OeKB will migrate the Austrian CSD to the new company OeKB CSD GmbH during the weekend of Friday 11 September to Monday 14 September 2015. During this weekend customers will be impacted by the following:

• All instructions sent to Clearstream Banking that are in the Austrian market by market close on Friday 11 September 2015:
  
  Instructions with matched or unmatched statuses, with past and future settlement dates will automatically have the BIC and Data Source Scheme changed from the old BIC OEKOATWW to the new BIC OCSDATWWXXX and the old Data Source Scheme OEKO to the new Data Source Scheme OCSD. No action is required from the customer.
  
• All instructions for the Austrian market, sent to Clearstream after 21:30 on Friday 11 September 2015:
  
  Customers must ensure their instruction contains the new PSET BIC OCSDATWWXXX and the new Data Source Scheme OCSD.
• All instructions sent before 21:30 on Friday 11 September with the new PSET BIC OCSDATWWXXX and the new Data Source Scheme OCSD will be rejected by Clearstream and customers will have to reinstruct.
• All instructions for the Austrian market, sent to Clearstream after 21:30 on Friday 11 September, quoting the old PSET BIC OEKOATWWXXX and the old Data Source Scheme OEKO will be rejected by Clearstream and customers will have to reinstruct with the new PSET BIC and Data Source Scheme.

Further information

The instruction specifications will be updated in the Creation Link Guide – Austria on 14 September 2015.

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.