The 100% owned subsidiary of the Oesterreichische Kontrollbank AG (OeKB) successfully assumed the role of the domestic central securities depository (CSD) by taking over the responsibilities from its parent company. OeKB will still be in charge of the national ISIN allocation and remain the registration office in accordance with the Austrian capital market laws.
OeKB CSD GmbH took over all CSD functions that OeKB has maintained during the last five decades and continues to offer the following services:
• Independent custody and administration of securities
• Newly Issued securities automatically tradable when delivered to CSD
• Real time electronic processing of OTC transactions
• Electronic accessibility • Centralized information about Corporate Events
With this step, the EU’s requirements on transparency and risk management regarding securities transactions have been implemented. Despite the spinoff, cooperation with the OeKB will remain strong and both entities together will build a securities competency centre which will support the Austrian capital market.
Source: OeKB CSD GmbH
Impact on investors: As of today, settlement instructions have to be populated with the amended place of settlement and/or counterparty agent details, as applicable.
Related Newsflashes:
Outsourcing of CSD Function from OeKB
Demerger of CSD Functions from OeKB