In 2021, the Austrian National Council passed an amendment to the national Depository Regulation, thus enabling the purely electronic issuance of securities. Since autumn 2022, we have been supporting the domestic capital market in this innovation with our Issuer Platform. The life cycle of a security is depicted in a completely digital format - from the issue to the end of a security's life.
Today, 80% of all securities certificates are certified by us as Digital Global Certificates (DGC for short). The pace of this digital transformation on the national capital market is impressive.
A number of success factors are crucial to this success:
- Employees with great commitment and expertise
- Smart IT solutions
- Simple, short processes
- Active participation by our customers
This success story shows the power of a common goal. Because our customers, IT providers and employees have shown through joint design and precise collaboration that decades of practice can be completely rethought and implemented in a short space of time.
- The advantages of DGCs are obvious:
- No writing paper certificates
- No transport routes across Austria
- No storage of physical securities in a vault
- Easy recording of the DGC
- Simple online management in the further lifecycle of the securities
In short: The DGCs are an important contribution to an efficient Austrian capital market. Many thanks to everyone who has been so motivated and is helping to shape this.