Equity holdings
Wiener Börse AG reinforced its market position not only by achieving improvements in its divisions and core business areas, but also by acquiring new interests.
Central Counterparty Austria GmbH (CCP.A)
Oesterreichische Kontrollbank AG (OeKB), which acts as a clearing and settlement agency for cash
products, and Wiener Börse AG, which acts as exchange operating company and clearing house for
derivatives, have founded a joint company which will assume the function of a central counterparty
for the entire Vienna stock market as of 1 January 2005.
Central Counterparty Austria GmbH (CCP.A) will act as the responsible central counterparty
for the clearing and risk management of all trades concluded on Wiener Börse and will assume the
fulfillment and default risk involved in the clearing and settlement of securities and derivatives
transactions.
EXAA (Energy Exchange Austria)
The liberalization of the Austrian and European market for electricity has brought about far-reaching changes in the way electricity is traded. Electricity exchanges are cropping up throughout Europe to enable the more efficient marketing of this new commodity and other forms of energy.
Wiener Börse AG has established an Austrian electricity exchange jointly with a syndicate of electricity producers and electricity trading firms.
APCS Power Clearing and Settlement AG (APCS)
Wiener Börse AG has a stake of 10% at APCS Power Clearing and Settlement AG, which runs the clearing and settlement process within the Verbund APG control zone as balance group coordinator ("Bilanzgruppenkoordninator" - BKO). Its tasks in particular comprise determination, price formation and settlement of the balance energy. The BKO, together with the market participants, network operators and control zone manager is responsible for proper, neutral and confidential handling of the market for balance energy.