The auction procedure for government bonds of the Republic of Austria is based on the special software ADAS, developed by the OeKB that is accessible to those authorised via a web application without requiring further installation. ADAS ensures a quick response and exhaustive information without delay.
Electronic auction system as a special software
The OeKB developed the special software ADAS (Austrian Direct Auction System) for the auction of government bonds of the Republic of Austria. It was first used in 1998 and has been available as an online service since 2008. ADAS is constantly being further developed and adapted to suit modern technological standards.
ADAS offers a wide range of benefits. It allows different auction procedures – both with competitive and non-competitive bidding variants – to take place and personalised reports to be sent. All information, such as auction results and individual allotments per bank, can be displayed in ADAS. It’s high reliability in terms of content and technology means the system is both very user-friendly, and offers the highest level of safety.
Based on the feedback of all participants
The development of ADAS benefits from the close contact between the issuer and primary dealers before, during and after an auction. Qualified feedback from both sides went into the development of ADAS and contributed to the system’s continuous improvement.
Aside from the issuer, institutions that are allowed to take part in government bond auctions have access to ADAS and thus to the online service. Detailed information, such as the user manual, contracts, settlement information and business continuity measures, are stored in the system directly. The language used in ADAS is English.
Essential advantage of the electronic auction system ADAS
After the deadline for the submission of competitive bids has expired, bidding and confirmation by the issuer occur electronically.
The auction results are made available to primary dealers immediately after the auction.
All information is communicated electronically via ADAS and is also distributed automatically via email and/or fax without delay.
Professional support by OeKB
Aside from the processing of auctions, the OeKB provides technical support and can respond to all questions relating to the auction procedure and government bonds.
Any more questions?
If you would like more detailed information or need technical support, don’t hesitate to call us.
ADAS via the OeKB Login Portal
The OeKB processes all government bond auctions via the “Austrian Direct Auction System”.
