The Vienna and Prague Stock Exchange Group holds the licences to operate the Vienna and Prague securities trading places. The group participates in opportunities on the European energy market through its interests in energy exchanges.

Structure of the Stock Exchange Group Vienna and Prague

Prague Stock Exchange (Burza cenných papírů Praha)

The Prague Stock Exchange was founded in 1871 and, as the Czech national stock exchange, organizes the local securities market. For its part, the Prague Stock Exchange holds a participation in the local central securities depository CSD Prague (Central Securities Depository Prague) and the power exchange PXE (Power Exchange Central Europe). CSD Prague dominates the settlement of securities transac-tions on the Czech capital market. PXE provides the trading platform for electricity and gas trading in Central and Eastern Europe.

PSE

APCS Power Clearing and Settlement AG

APCS Power Clearing and Settlement AG runs the clearing and settlement process within the Verbund APG control zone as a balance group coordinator. The tasks comprise the administration of the balance groups as regards organization and settlement as well as the calculation and allocation of imbalance energy. Together with the market participants, grid operators and control area managers, the balance group coordinator is responsible for orderly, neutral and anonymous settlement of transactions on the energy market.

APCS

CCP.A Central Counterparty Austria GmbH

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, founded a joint company in 2005 which has assumed the function of a central counterparty for the entire stock market of the Vienna Stock Exchange.

Central Counterparty Austria GmbH (CCP.A) acts as the responsible central counterparty for the clearing and risk management of all trades concluded on the Vienna Stock Exchange and assumes the counterparty and default risk involved in the clearing and settlement of securities transactions.

CCP.A

CEGH Central European Gas Hub AG

The Central European Gas Hub, a 20% subsidiary of Wiener Börse AG (further shareholders are OMV Gas & Power 65% and the Slovakian Eustream 15%), is one of the most important natural gas trading platforms in Central Europe. It provides international gas companies with a trading platform and operates the Virtual Trading Point in Austria.

In 2016, CEGH signed an agreement with Powernext SA, which is headquartered in Paris, on the joint development of the Austrian and of the Central and East European gas markets (CEE region).

CEGH

CISMO Clearing Integrated Services and Market Operations GmbH

CISMO is a service provider and shareholding partner for companies that are active in the deregulated European energy and emissions markets. CISMO provides services and know-how in the areas of energy deregulation and market models, delivers the required IT such as clearing, auction, registration, cash settlement and risk management systems. If required, it also founds joint ventures with its customers.

CISMO’s customers include the following companies: the clearing agent for gas (AGCS and A&B) and electricity (APCS), the settlement agent for electricity from renewable source (OeMAG), the electricity exchange EXAA and RIECADO that deals with the auctioning of cross-border transport capacities for energy.

CISMO

EXAA Energy Exchange Austria

Wiener Börse AG has established an Austrian electricity exchange jointly with a syndicate of electricity producers and electricity trading firms.

EXAA operates in the Austrian APG control area and in four German control areas. Trading in green electricity has been cleared on EXAA for the five control areas since December 2012. Additionally, EXAA is responsible for the settlement of financial transactions (clearing) and assumes counterparty risk for all trades. In December 2015, the national energy regulator, E-Control, named EXAA “Nominated Electricity Market Operator” (NEMO) for the Austrian electricity market along with two other power exchanges.

EXAA

More Information about the Vienna Stock Exchange

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