Financial Settlement

In its function as central counterparty, EXAA guarantees the financial fulfillment of all trades executed. The settlement of the trades is defined by the special clearing and settlement rules, which are binding for all exchange members. The clearing banking procedures are done by Oesterreichische Kontrollbank. The daily valuation of all open positions ensures that the collaterals deposited by the trading participants are maintained at sufficient levels. Thus, EXAA ensures the financial fulfillment of all trades in any case. EXAA accepts cash deposits, securities and bank guarantees as collateral for trades.

Integrated Clearing

EXAA has charged Oesterreichische Kontrollbank (OeKB) with the technical operation of financial clearing and settlement. OeKB’s tasks include crediting and debiting, and the generation of bills for trading fees as well as any related crediting and debiting. Furthermore, OeKB assesses creditworthiness and manages collaterals on behalf of EXAA. EXAA is Central Counter Party and is thus responsible for clearing and collateral management.

Calculation of trading collaterals

  • The calculation shall be done separately by Proprietary accounts and Agent accounts
  • Trading volumes are netted within one account category
  • Netting of volumes and volume fluctuations result in the collateral for each account group
  • Total collateral requirement is the addition of collateral requirements per account category

 

Fees

EXAA fees are collected in accordance with the Schedule of Fees of Wiener Börse AG. Wiener Börse AG has commissioned EXAA with the task of acting as a clearing agent for trading in electricity. Fees are charged for

  • Joining trading
  • Participation in trading
  • Transaction fees
  • Traders, trading pass holders
  • KeyFob (= electronic random code generator for accessing the trading system) fee
  • The opening of additional trading accounts

Please find more detailed information about fees here:

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