Scope of financial clearing by OeKB
Based on the price and volume data made available by EXAA, OeKB performs the daily determination and book entry of the trading participants’ payables and receivables. The financial clearing for a given day’s trades always takes place on the next business day.
On behalf of EXAA, OeKB also bills for the transaction and trading participation fees, clears and settles the payments, monitors payment receipts and provides collection of overdue liabilities. Direct credits and debits are posted on a t+2 basis, with t representing the trade date.
Every trading participant receives separate invoices/credit notes for their purchases and sales in each market segment, and a separate invoice for fees.
The trading participant is responsible for providing timely cover of its settlement account. The market participant must also issue EXAA a direct debit authorisation for the settlement account.
Clearing is performed electronically by means of direct debiting and crediting. Debits are thus collected directly from the settlement account. Credits are transferred to the settlement account on the settlement date after deducting transaction fees, specialised fees, taxes and related levies.