After the necessary amendments to the Austrian Securities Deposit Act (Depotgesetz) were implemented in 2021, another major milestone towards digitalising the Austrian securities market was achieved. The Austrian Central Securities Depository (OeKB CSD GmbH) launched their new Issuer Platform in November 2022, enabling securities (i.e. bonds and investment certificates) to be issued in paperless form as a Digital Global Certificate. Until now, securities could only be issued in paper form. A Digital Global Certificate is created in the IT system of OeKB CSD GmbH (via the Issuer Platform) based on the information electronically transmitted to OeKB CSD GmbH by the respective issuer.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.