Participant Meeting

OeKB CSD regularly organises theme-related events for its clients in order to inform them about current developments.

On November 29th, 2019, OeKB CSD once again invited its clients to a Participant Meeting - the venue was OeKB CSD's location in Strauchgasse.

This time, OeKB CSD also offered its clients the opportunity to participate in the Participant Meeting via conf. call. This new format was used by both national and international participants. They were informed about all topics in real time and could even ask questions via an online platform, which were answered during the meeting.

Georg Zinner, Managing Director, hosted the Participant Meeting, welcomed the attending guests, introduced the conf. call participants and presented the current business facts & figures of the safekeeping and settlement volume of OeKB CSD.

Afterwards Kurt Kerschbaum, Head of Accounts & Settlement, informed about the upcoming T2S Releases 2020. He explained that there are essentially three releases here, but one of them does not have any impact for the OeKB CSD participants. The June and November releases contain updates that also affect OeKB CSD participants. Details will be communicated by OeKB CSD to the participants prior to the releases with an appropriate lead time, according to Kurt Kerschbaum.

Subsequently, Georg Zinner reported on the 5th User Committee of OeKB CSD. This took place on November 14th, 2019. The agenda included the business facts & figures of the safekeeping and settlement volume as well as an update on the projects and activities of OeKB CSD. The Shareholder Rights Directive was also reported. The minutes will be published in the coming days under My OeKB CSD in the User Committee section. Clients who are interested can find all contents in detail there.

Another agenda item of the Participant Meeting was the project of OeKB CSD to implement the Settlement Discipline. Kurt Kerschbaum informed about the measures OeKB CSD is already providing to prevent settlement fails and mentioned the form of the calculation of the penalties. He also explained which fails reports OeKB CSD will make available to its participants in the future. The monthly payment (collection & distribution) of the penalties was also of particular interest to the participants. Kurt Kerschbaum gave detailed information on when which penalties and where they will be debited or credited by OeKB CSD. Finally, he presented how OeKB CSD will provide its participants with further information on this topic in the coming months.

Kurt Kerschbaum then reported on T2/T2S Consolidation, a project of the euro central banks. Here he focused on the essential aspects of the project for OeKB CSD.

In conclusion, Harald Seisenbacher, Relationship Management Issuers, informed about the project Shareholder Rights Directive and pointed out the focus of OeKB CSD on the area of identification of shareholders, transfer of information, facilitation of the exercise of shareholder's rights and engangement. This leads to four items that represent the scope of the OeKB CSD project. He explained these four elements in detail comprehensive process diagrams which show both the different intermediaries and the technical possibilities. He also discussed the timeline of the project until the SRD II come into force. In addition, he described the implementation status at the national level and addressed the relevant stakeholders. He concluded his presentation by saying that the different stakeholders are working hard to create a unified market awareness.