Stock market transactions involve more than simply matching buyers and sellers. Clearing, risk management and the secure settlement of securities transactions are key components of modern financial markets. With CCP Austria, the clearing house for stock exchange transactions, and OeKB CSD, the Vienna Stock Exchange provides a reliable clearing and settlement infrastructure for securities trading. This enables the efficient settlement of stock exchange transactions and contributes significantly to the security and stability of the market.
Clearing
Clearing describes the processing of stock exchange transactions following their execution and the settlement of the corresponding obligations between buyer and seller.
On the Vienna Stock Exchange, clearing is carried out by Central Counterparty Austria GmbH (CCPA), which was founded on 2 August 2004 by Oesterreichische Kontrollbank AG (OeKB) and Wiener Börse AG, and which assumed the function of a central counterparty for all trades executed on the Vienna Stock Exchange market (pursuant to § 9 (3) Austrian Stock Exchange Act 2018) as of 1 January 2005. CCPA acts as the responsible central counterparty for the clearing and risk management of all trades concluded on the Vienna Stock Exchange and assumes the fulfilment and default risk involved in the clearing and settlement of securities transactions. In order to ensure the fulfilment of all transactions, CCP Austria applies modern risk management methods.
Settlement
Settlement is the final processing of securities transactions through the delivery of the securities and payment of the purchase price.
The settlement on the cash market of the Vienna Stock Exchange market takes place on the second day after the trade was concluded (T+2). Settlement is carried out by Central Counterparty Austria GmbH (CCPA) and OeKB CSD GmbH (100% affiliate of Oesterreichische Kontrollbank AG – OeKB).
