UniCredit Bank Austria AG
Summary:
Following the migration of the Austrian market to T2S, certain changes will occur to the local standard settlement holiday schedule, effective later in 2017
Thu, 16/03/2017
On three of the six Target2 holidays - Good Friday, Easter Monday and Labour Day - settlement in the market will be possible according to the logic of T2S. Due to the fact that no cash settlement can take place on Target2 holidays, only free of payment instructions can be settled on these three days. On the remaining Target2 holidays - 1 January, 25 December and 26 December - the currently established practices will not change and settlement will continue to not be possible.
In detail, the following changes will occur in 2017:
- Good Friday, 14 April 2017 (Target2 holiday)
On this day, Vienna Stock Exchange and OeKB CSD are closed, however UniCredit Bank Austria will have staff on duty to support settlement. In line with the T2S practice, only settlement free of payment will be possible, and this applies to both internal and external transactions.
- Easter Monday, 17 April 2017 (Target2 holiday)
On this day, all market participants, including UniCredit Bank Austria, are closed. However, internal and external free of payment instructions that meet UniCredit Bank Austria's STP requirements can be settled.
- Labour Day, 1 May 2017 (Target2 holiday)
On this day, all market participants, including UniCredit Bank Austria, are closed. However, internal and external free of payment instructions that meet UniCredit Bank Austria's STP requirements can be settled.
Impact on investors: Additional possibilities for free of payment settlement on certain Target2 holidays are being introduced in the Austrian market