T +43 1 53127-2020
settlement@oekb-csd.at
The services of OeKB CSD are diverse. Among other things, we support our clients in the settlement of their securities transactions.
Situation:
You act as a credit institution, an investment firm or similar body based in an EEA Contracting Party or a member state of the OECD and would like to settle securities in the Austrian capital market.
Our scope of services:
We provide our clients with the state-of-the-art OTC settlement system TARGET2-Securities (T2S).
The costs:
As a CSD we keep our costs transparent. Therefore, all costs are listed in our price list:
Your way to us:
We are glad to help you find the most suitable way towards your solution. Please contact us!
OeKB CSD uses T2S for Securities Settlement:
T2S is a European platform, which was developed by the German, French, Italian and Spanish central banks. It is operated by the Eurosystem, which is currently being used by over 20 European central securities depositories.
We use T2S as our settlement system which enables the harmonised settlement of securities transactions across Europe using central bank money. This eliminates former restraints in cross-border settlement and at the same time increases security and efficiency.
Your Cost Savings by Using T2S for Settlement:
We let our securities account holders benefit directly from the advantages of securities settlement in T2S: It allows us to keep the costs of securities settlement low, since it only involves a single system.
Our securities account holders also benefit for securities account administration from T2S.
Get more information here:
Securities Account Administration
Transaction Types for the Settlement of Securities Transactions:
The settlement of securities transactions in T2S differentiates between several transaction types. For further information on the transaction types please read on:
By instructions of the transaction type Intra the securities account holder orders bookings between two securities accounts at OeKB CSD, regardless of whether the securities account holder is a CSD using T2S or not.
We support instructions of the transaction type Intra for the following instruction types:
a) Delivery Free of Payment (FOP): Securities are delivered or received without payment
- DFP (Deliver Free of Payment)
- RFP (Receive Free of Payment)
b) Delivery Versus Payment: Securities are delivered or received against payment on a DCA held with a Euro central bank.
- DVP (Deliver versus Payment)
- RVP (Receive versus Payment)
c) Delivery With Payment: Securities are delivered or received simultaneously with the payment on a DCA held with a Euro central bank.
- DWP (Deliver with Payment)
- RWP (Receive with Payment)
d) Payment or credit booking without delivery (PFoD): A payment or a credit booking on a DCA held with a Euro central bank is carried out without the delivery of securities. However, the instruction must contain an ISIN.
- PFRD (Payment Free of Receive Debit)
- PFRC (Payment Free of Receive Credit)
- PFDD (Payment Free of Deliver Debit)
- PFDC (Payment Free of Deliver Credit)
Our scope of services in detail:
By instructions of the transaction type Cross the securities account holder orders bookings between a securities account at OeKB CSD and a securities account at a custodian of OeKB CSD that uses T2S to administrate OeKB CSD's securities account in securities which OeKB CSD keeps and administers as Investor CSD with a custodian.
a) Delivery Free of Payment (FOP): Securities are delivered or received without payment
- DFP (Deliver Free of Payment)
- RFP (Receive Free of Payment)
b) Delivery Versus Payment: Securities are delivered or received against payment on a DCA held with a Euro central bank.
- DVP (Deliver versus Payment)
- RVP (Receive versus Payment)
c) Delivery With Payment: Securities are delivered or received simultaneously with the payment on a DCA held with a Euro central bank.
- DWP (Deliver with Payment)
- RWP (Receive with Payment)
d) Payment or credit booking without delivery (PFoD): A payment or a credit booking on a DCA held with a Euro central bank is carried out without the delivery of securities. However, the instruction must contain an ISIN.
- PFRD (Payment Free of Receive Debit)
- PFRC (Payment Free of Receive Credit)
- PFDD (Payment Free of Deliver Debit)
- PFDC (Payment Free of Deliver Credit)
Our scope of services in detail:
By instructions of the transaction type External the securities account holder orders bookings between a securities account at OeKB CSD and a securities account at a custodian of OeKB CSD that does not use T2S to administrate OeKB CSD's securities account in securities which OeKB CSD keeps and administers as Investor CSD by said custodian.
OeKB CSD supports instructions of the transaction type External for the following instruction types:
a) Delivery Free of Payment (FOP): Securities are delivered or received without payment
- DFP (Deliver Free of Payment)
- RFP (Receive Free of Payment)
Our scope of services in detail:
Instructions of the transaction type Physical comprise all instructions for the physical deposit and withdrawal of securities as well as the increase and decrease of Global Certificates in the OeKB CSD vault.
OeKB CSD supports instructions of the transaction type Physical for the following instruction types:
a) Deposit: deposit of a Global Certificate
b) Withdrawal: withdrawal of a Global Certificate
c) Increase: increase of a Global Certificate
d) Decrease: decrease of a Global Certificate
Our scope of services in detail:
Intra-Position Movements can be instructed by a securities account holder to block or reserve positions or to earmark positions for auto-collateralisation on a securities account for later use as specific positions to be settled in a settlement instruction.
OeKB CSD supports instructions of the transaction type Intra-Position Movement for the following restriction types:
a) Blocking
b) Reservation
c) Earmarking for auto-collateralisation
Report on settlement fails
In accordance with Table 1 of Annex III to Commission Delegated Regulation (EU) 2018/1229, OeKB CSD publishes the report on settlement fails on an annual basis:
Report on settlement fails, 2022
Any questions regarding your settlement instruction?
Please contact us!
Accounts & Settlement Service Center
Accounts & Settlement Service Center
T +43 1 53127-2020
