Services of CCP Austria

CCP Austria clears all those transactions that were concluded by trading with CCP-eligible securities at the Wiener Börse AG, the Vienna Stock Exchange facility. As a center party to a contract, we are located between buyer and seller, assuming the fulfillment and the cancellation risk for all trades.

CCP-eligible securities are around 12,000 instruments, which trade in all of the Wiener Börse AG market segments: equity market, bond market, structured products and other securities. By defining securities categories, a distinction is drawn between home and foreign stocks, share certificates, profit-sharing rights, subscription rights, bond issues, certificates and equity warrants.

 

Non-CCP-eligible securities

(agreed between CCP.A, Wiener Börse AG and OeKB CSD)

Merely very few securities are excluded of clearing due to technical and risk issues (see the non-CCP-eligible securities published by Wiener Börse AG).

 

The following cases cannot or will not be included in the CCP-A system:

  1. Securities that cannot be processed by OeKB CSD GmbH - this includes:

    1. A global certificate is held by the issuer (and not by OeKB CSD GmbH or another custodian, with which OeKB CSD GmbH has a link) – regarding stock exchange listings, this is possible in the Vienna MTF only, as long as no transaction is concluded via the stock exchange (Regulation (EU) 909-2014 Article 3)
    2. Conditions of Annex 2 of the GTC of OeKB CSD GmbH (inventory overview) are not fulfilled (security is NOT set-up on the T2S platform or there are restrictions)

  2. Registered bonds
  3. Dual currency bonds (example of dual currency bond: nominal currency in EUR, interest payment in JPY)
  4. Floaters facing more interest rate adjustments than coupon dates (e.g. half-yearly interest rate adjustment, yearly coupon date).
  5. Foreign currency bonds for which there is no ECB reference rate.
  6. Bonds with series of amortisation (Note: Bonds with amortisation by instalments, i.e. partial amortisations by reduction of face value or pool factor are CCP-eligible).
  7. Performance linked bonds WITHOUT a face value repayment guarantee, for which no NAV is published by us.