CFCL General information - Austria
CFCL eligible fund types
Eligible funds
Investment funds that are eligible in the Austrian CSD (OeKB CSD Gmbh) or T2S can be made eligible in CFCL.
Custody chain and depository
Austria is T2S market.
The OneClearstream service level provides clients with a single point of access to all T2S markets with comprehensive instruments coverage. This is complemented by full harmonisation of asset services and connectivity channels between CFCL, CBL, and CBF.
The service description is valid for CFCL clients, unless otherwise highlighted in the documentation.
CFCL utilises the T2S infrastructure platform to access the Austria’s CSD (OeKB) through the intermediaries of CBL. CFCL uses CBL as a global custodian across all markets.
Type of link |
Direct link via Erste Group Bank AG to OeKB CSD (All non T2S-eligible securities) |
CSD (as CBF’s and CBL’s depository) | Custodian (as CBL’s depository) | CBL (as CFCL’s depository) | |
Name | OeKB | Clearstream Banking AG, Frankfurt | Clearstream Banking S.A. |
FATCA GIIN | YS6GTM.00003.ME.040 | N1V1GJ.00002.ME.276 |
N1V1GJ.00000.LE.442 |
LEI | 529900UXJ594WXFBTF87 | 549300298FD7AS4PPU70 | 549300OL514RA0SXJJ44 |
Country of incorporation | Austria | Germany | Austria |
Account type | Omnibus | Omnibus | Segregated |
Legal account name/holder | Clearstream Banking S.A. | Clearstream Fund Centre S.A. | Clearstream Fund Centre S.A. |
Depository
Depository | CSD |
CBL | All T2S eligible assets Asset Servicing local agent Custodian |
Operational arrangements
This section describes the operational arrangements of the Austrian market:
Domestic Market | Remarks | ||
For CFCL clients (link to CBF through CBL) | For CFCL clients (link to OeKB CSD) | ||
Settlement in T2S | Yes | No | |
Settlement free of payment | Yes | Yes | |
Settlement against payment | Yes | Yes (EUR only) | Eligible settlement currencies (between CBF and CBL counterparties only): AUD, CAD, CHFa, CNY, CZK, DKK, EUR, GBP, HKD, HUF, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, USD and ZAR. |
Settlement against payment in central bank money account | Yes | No. The account operator settles on its DCA and uses the DCA to collect cash proceeds from asset servicing. | CeBM in EUR only |
Short selling of entitlement | No | No | Short selling of income or corporate actions proceeds is not authorised for settlement in CFCL. Please refer to the CFCL Client Handbook. |
Partial settlement | Yes | Yes | |
Recycling | Yes | Yes | |
Settlement with Euroclear | Yes | Yes | |
Settlement penalty fees | Yes | Yes | |
Hold and Release | Yes | Yes | |
Allegements | Yes | Yes | |
Transaction linking | Yes | Yes | |
Bilateral cancellation | Yes | Yes | |
Registered securities | According to the provisions of the amendment to the Austrian Company Act (AktG) passed in 2011 (GesRÄG 2011), shares should as a rule be registered shares (Section 9 (1) AktG (Corporate Law)). The following exceptions apply:
A company whose shares were traded on the Third Market on 1 August 2011 is considered for the duration of the inclusion of the shares in the Third Market as a Stock Exchange listed company. | ||
Transaction management | Yes | Yes | |
Multi Market Securities | Limited | Limited | |
Lending and borrowing | Yes | Yes | |
Proxy voting | Yes | Yes | |
Liquidity Hub Connect | No | No | |
Sale and purchase of rights | No | No | |
Repo services | Yes | Yes | |
Market restrictions | No | No | |
FTT | No | No | |
Daily reconciliation | Yes | Yes | |
Link eligible for use in Eurosystem credit operations | Yes | No | |
Moment of entry of instructions | Transfer orders to be settled on the T2S Platform that are subject to matching shall be deemed entered into the system at the moment at which such transfer orders have been declared compliant with the technical rules of T2S by the T2S platform | ||
Irrevocability of instructions | Transfer orders become irrevocable at the moment they have been given a matched status on the T2S platform. | ||
Finality of instructions | Settlement in T2S is simultaneous, final, and irrevocable. | ||
Legal arrangements
This section is valid on the date of the legal opinions that were issued and might be subject to change.
The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter. As CBL is our sub-custodian, please refer to the CBL Market Link Guide - Austria for the complete information about Legal arrangements
Cash correspondent details
Currency: | Euro (EUR) via T2 RTGS | Euro (EUR) via CCB |
CCB name: | Banque centrale du Luxembourg | Erste Group Bank AG |
CBL account: | AT80 2010 0403 3163 7800 | |
SWIFT address: | TRGTXEPMRTG | GIBAATWGXXX |