Government Bonds to be Traded in Continuous Auction from 1 March 2024

UniCredit Bank Austria AG
Wed, 14/02/2024

Starting Friday, 1 March 2024, the Vienna Stock Exchange (VSE) will start the trading of Republic of Austria Government Bonds in the Continuous Auction trading procedure. Trading in the new segment will occur throughout the entire trading week. Each bond will be assigned to one dedicated liquidity provider who will be responsible for providing buy and sell volume at competitive pricing.

As for stocks, all types of orders available in the normal trading procedure within the Continuous Auction (Market, Limit, Stop) can be placed. As usual, trading and settlement will be done in EUR. In line with the market usance so far applied for shares traded in continuous auction, clearing of the trades will be covered by the CCP Austria while the OeKB CSD will act as the settlement agent. Bond trades will also adhere to the T+2 settlement standard.

Currently, the VSE is conducting functional and technical testing in a dedicated market group on the Xetra T7 Simulation platform. Within the testing period, the trading Schedule starts after batch days with 10:00 o’clock (Pre-Trade) followed by Pre-Call from 10:35 to 15:50 (on batch days).

The trading schedule to be applied in the live environment will be confirmed shortly before the go live including a list of the available instruments.

Impact on investors: Austrian Government Bonds will be eligible for continuous auction trading on the Vienna Stock Exchange from March 2024.