The new OeKB CSD Issuer Platform startet successfully and has enabled issuers of Austrian securities to invest and manage digital securities and to exchange information interactively.
Paperless "Digital Global Certificate"
This is a major milestone in the digitalization of custody infrastructure on the Austrian Capital Market. Until now, the process of issuing a security, the issue, was the last paper-based process in the capital market. The amendment to the Deposit Act from the previous year now allows securities to be issued in paperless form as a "Digital Global Certificate", while ensuring authenticity and integrity through a central depository approved in the EU.
“We developed the Issuer Platform to make the resulting benefits fully accessible to participants in the Austrian capital market. This central "digital vault" with electronic interfaces for the investment and management of digital collective certificates enables issuers to exchange information directly and interactively on the respective security," explain Peter Felsinger and Georg Zinner, the two managing directors of OeKB CSD.
After extensive test runs, the Issuer Platform, which was developed in close cooperation with important issuers, went live on November 7, 2022. "The physical delivery of securities at the securities counter was time-consuming and not very resource-efficient - and also an organizational challenge for our customers during the lockdowns caused by the pandemic. The digital, automated and location-independent access to our custody system is also an attractive offer for international market participants and should lead to a new dynamic on the Austrian financial market,” summarizes Georg Zinner.