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Market Passport

Austria

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Market information

Supporting you

Key market information

  • Local currency

    Euro
    (EUR)

  • 2017 GDP

    USD
    417bn

  • Time zone

    GMT
    +1 hour

  • Numbering
    system

    ISIN

  • Main stock
    exchange index

    ATX

Key market figures

Market capitalisation USD 151bn
Number of listed companies 536
2017 value of share trading USD 3.16bn
Number of ETFs listed 9
2017 value of bonds trading USD 65.88bn
Number of bonds listed 232
Number of futures contracts traded in 2017 n/a
Number of options contracts traded in 2017 n/a

Local market infrastructures

  Equities Corporate bonds Government bonds
Main trading venue Vienna Stock Exchange Vienna Stock Exchange Vienna Stock Exchange
Main clearing venue CCP.A CCP.A CCP.A
Settlement and custody OeKB OeKB OeKB
Cash leg Central bank (TARGET2) Central bank (TARGET2) Central bank (TARGET2)

Local market authorities and regulators

  • Austrian Financial Market Authority (FMA) is the single statutory supervisory body directly responsible for banking, insurance and pension funds, securities and stock exchange supervision
  • Österreichische Nationalbank (OeNB) is the central bank of Austria

Market practices (ALL TIMES ARE LOCAL)

SECURITIES
Settlement cycles
Equities T+2
Bonds T+2
Cash T+2
Cut-off times
Equities DVP RTS 4.00pm
FoP RTS 6.00pm
Bonds DVP RTS 4.00pm
FoP RTS 6.00pm
Cash 6.00pm
 
Omnibus account/securities Yes
Omnibus account/cash Yes
Pre-matching Yes
Irrevocable pre-matching No
Short selling No
Cash settlement/DVP Yes
Securities lending Yes
Foreign ownership limits No
Tolerance limits
  • Up to EUR 100,000 trade value: EUR 2.00
  • Over EUR 100,000 trade value: EUR 25.00
Examples of market penalties

Penalties for failed OTC transactions: a default interest of 0.015% per day for maximum 20 business days in favour of the buyer. The additional fee in favour of OeKB (the revaluation fee) is EUR 18 per day.

Penalties for failed stock exchange trades: three times OeNB rate of the cash amount for late interest. Penalty of 0.3% from FMA: minimum EUR 250 per day for SD+1 until SD+3.

Buy-in practice

Buy-in processed by CCP.A:

  • On SD+3 after the second settlement cycle until SD+4: buy-in and cash settlement cost EUR 250
  • On SD+5: cash settlement occurs (with a rise of 20% for securities and 10% for subscription rights)

BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.

Supporting you

BNP Paribas Securities Services in Austria

We play a leading role in the Austrian securities services market. BNP Paribas Securities Services is the only non-Austrian CSD member represented at a user committee recently created by the Austrian CSD.

Our main services

Core

We offer local clearing and custody to domestic and foreign institutions. Our core services include settlement, on‑exchange clearing, safekeeping, corporate actions, proxy services, cash and collateral management.

Market-specific

  • Clearing and/or settlement services for on- and off-exchange activities
  • Harmonised settlement and asset servicing processes offering synergies with the German market

What makes us different

  • One single partner to access both the German and Austrian Markets: legal contract, Service Level Description (SLD), account and relationship managers
  • Full range of custody services, including proxy voting via Broadridge and local tax service via an Austrian tax consultant

Selected market recognition

Global Investor Sub-Custody Survey (2017): ranked 1st

A sound partner

BNP Paribas Securities Services has been active in Austria since 2004 and a General Clearing member since 2012. Our leadership is recognised in the local market, through our active participation in marketplace committees.

Contact

For more information, please contact your relationship manager or
Dietmar Roessler, Head of Sales and Relationship Management
dietmar.roessler@bnpparibas.com

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