Legal framework

The securities industry is regulated by the Austrian Stock Exchange Act 1989 (FLG. No. 55/1989), as amended by Federal Law Gazette No. 22/2009. All directives as well as many other documents are available on the website of the European Commission. Information of relevance for clearing and settlement is published by the European Commission under the heading Internal Market.

Clearing Rules and legal framework

• Clearing Rules
• Rules on Trading Security / Margin calculation

The objective of these Clearing Rules is to secure the fulfillment of CCP-eligible transactions.

The CCP.A Clearing Rules govern the clearing and settlement of exchange transactions in securities admitted to listing on the Official Market or Second Regulated Market of Wiener Börse AG in its function as a securities exchange and executed by exchange members of Wiener Börse AG through the cash and/or derivatives markets ("exchange transactions") in trading in the automated trading systems Xetra® and EUREX®.

The CCP.A Clearing Rules apply to the clearing and settlement of transactions in securities traded on the Multilateral Trading System (MTF) operated by Wiener Börse AG, the Third Market, concluded by exchange members of Wiener Börse AG in its function as a securities exchange through the automated trading systems Xetra® and EUREX® ("trades").

The exception to these rules are exchange transactions in instruments (non CCP-eligible securities), which pursuant to Article 20 have not been included in the clearing system by CCP Austria, securities transactions concluded through an intermediary, ancillary transactions related to securities transactions and ancillary transactions in trading in options and financial futures contracts.

Exchange transactions that do not belong to this category of exceptions shall be referred to as "eligible exchange transactions" (CCP-eligible transactions).