Our Corporate Governance and Business Ethics describes the code of conduct for the management and supervision of OeKB CSD. It is chiefly determined by the regulations laid down by the Central Securities Depositories Regulation (CSDR).

OeKB CSD GmbH is a limited liability company (GmbH) and is a 100% subsidiary of Oesterreichische Kontrollbank Aktiengesellschaft (OeKB).

It is operated by two Managing Directors, who are jointly responsible for the business. Its bodies are the Management Board, the General Meeting and the Supervisory Board, which sets up committees in the fields of risk, remuneration and audit. The Management Board reports to the Supervisory Board on a regular basis, and the Management Board and the Supervisory Board report to the General Meeting. 

You will find our Corporate Governance and Business Ethics and the related requirements of the CSDR if you click on the links below:

Corporate Governance and Business Ethics

Central Securities Depositories Regulation (CSDR)

Central Securities Depository Regulation (CSDR) Delegated Regulation

You will find information pursuant to Art. 65a BWG on our Fit & Proper Policy as well as on our remuneration policy here:

Information pursuant to Art. 65a BWG

In line with its mission and in compliance with the objectives of the regulatory requirements, OeKB CSD has implemented a comprehensive risk management system and avoids classic banking risks such as counterparty/market and liquidity risks. It achieves this by designing its services and business processes accordingly (e.g. no overdraft on cash accounts, no lending, no acceptance of deposits) and by adhering to its restrictive Investment Guideline. OeKB CSD manages operational risks in line with the comprehensive and strict requirements of the CSDR.

The risk management principles and the corresponding control framework are laid down in OeKB CSD's risk policy and risk strategy. To concretize and manage the very low risk acceptance levels, OeKB CSD has defined Key Risk Indicators (KRI) with corresponding thresholds for the risks assessed and documented in the Risk Map. These are monitored on a quarterly basis.

Operational risks from OeKB CSD participants in the SSS are mitigated, among other things, by connection tests for new customers or in case of significant system changes related to the CSD business at OeKB CSD or the securities account holders. These tests check whether the IT systems and employees of the securities account holders can ensure proper processing of transactions at OeKB CSD.

Reporting of completed Authorisation Functional Test Cases

Risk Assessment of OeKB CSD Services:

Article 34 (5) of the Central Securities Depositories Regulation (CSDR) lays down that a central securities depository shall disclose to all clients information that allows them to assess the risks associated with the services provided.

We provide a customer information document for that purpose:

General Information for Customers About Potential Risks Associated with the Services of OeKB CSD

What is it about?

Sustainability Management is more than compliance with legal regulations, provisions and laws. The key principle is the moral and social responsibility which the organisation observes of its own volition. Essential characteristics are the continuous further development of the underlying principles and the voluntary compliance with said principles.

Sustainability Management is more than environmental protection. The 17 goals for sustainable development are political objectives of the United Nations (UN Sustainable Development Goals; UN-SDGs), which are intended to ensure sustainable development at the economic, social and ecological level worldwide. For the framework of action of OeKB CSD, we have highlighted the following terms that define the relevant, formable thematic fields for us:

  • Responsibility
  • Voluntary self-commitment
  • Culture
  • Environment
  • Social involvement
  • Workplace (gender distribution, women in management positions, employee fluctuation, salary, training and further education, etc.)
  • Diversity
  • Stakeholder management
  • Community

A central point from this framework for action is Gendering – we pay attention to:

  • Salary policy - strict observance of equal treatment of both sexes
  • A person’s sex has no influence on the individual career moves
  • Equal pay for equal work
  • On the Supervisory Board, the Management Board and in the key positions, both men and women shall be represented with at least 40% each in total (cumulatively).

Sustainability Programme of OeKB Group:

As an Eco-Management and Audit Scheme (EMAS) certified company Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) has committed itself to take into consideration the consumption of resources, climate protection and social development with regard to its core business and its operation and to consistently pursue annual improvement goals.

OeKB CSD GmbH (OeKB CSD) as 100% subsidiary of OeKB is integrated in the sustainability management system of OeKB and has documented its measures in the Report of the OeKB Group.

Extract from the OeKB Group Sustainability Report 2019 - consolidated for OeKB CSD:

Goal Measure Progress Report
Develop a value system and a new way of working. Communicating vision and mission for OeKB KI Group, OeKB CSD-specific implementation. Vision and Mission Statements were adapted and visualized to the OeKB CSD requirements. They formed the basis for the successfully conducted multi-part planning workshop based on the strategy and planning.

Joint target share of women on the Executive and Supervisory Boards of 30% by 2020.

Persuade the shareholders.

Added to the gender and diversity policy as a strategic goal. As at 31 December 2019: 43%

Develop and implement a concept for financial literacy around the capital market. Supervisory board until 2020. Research possibilities of implementation (including digital solutions). Create a concept for implementation. Contact and coordination meeting with the person responsible for financial literacy at the OeNB has been established. Contacts with the OeNB and the Vienna Stock Exchange with a focus on financial literacy will be pursued consistently. Activities are also being considered together with the Austrian Aktienforum.

Digitalise securities to increase the efficiency of the capital market infrastructure.

Participate in the FinTech Advisory Committee or or subordinate working group to create a book-entry security law as the basis for the de-materialisation of transferable securities. The draft of a formulation of the necessary amendment in the Austrian Securities Deposit Act is available. Implementation by the government can be expected in the near future, as the project is reflected in the government declaration.

We are glad to have successfully implemented the measures taken for both objectives and will be happy to implement the sustainability goal 2019.

Extract from the OeKB Group Annual Financial Report 2019 of OeKB Group - consolidated for OeKB CSD:

Total as per 31 December 2019 

incl. delegated employees of OeKB

Employees of OeKB Group
Total employees 38
Of whom part-time employees 3
Total employees in full-time equivalents 37.13
Average age 47.61
Average length of service* -
Sick days per year and full-time employee 13.96
Proportion of total positions held by women 42.11%

*OeKB CSD only has delegated employees, therefore the categorie "Average length of service" is not applicable. 

OeKB Group Sustainability Report 2019

OeKB Group Sustainability Policy

OeKB Group Annual Financial Report 2019

OeKB CSD’s success is based on its high reputation and the trust our clients and stakeholders put in us. This is determined by the high standards we apply to our work when we tend to our clients’ needs and deliver our services.

The Code of Conduct of OeKB CSD equally addresses the Management Board and employees and lays down obligatory rules of conduct with regard to supervision, whistle-blowing, complaints processing and the prevention of corruption, money laundering and conflicts of interest.

You will find the Code of Conduct here:

Code of Conduct of OeKB CSD

Code of Conduct of OeKB Group

Any questions? Please contact us!

OeKB CSD Service Center
T +43 1 53127-2100
F +43 1 53127-4100