CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH

CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH (commonly abbreviated CCPA) is the Austrian central counterparty (CCP) for exchange-traded securities transactions and for energy spot market trading. It is based in Vienna at Strauchgasse 1-3 and operates under the mandate of the Wiener Börse (Vienna Stock Exchange). Its core function is to interpose itself between trading parties, providing clearing, risk management and the secure settlement of securities transactions as well as electricity spot market trades executed on the EXAA energy exchange. In doing so, it performs a market-infrastructure role that is essential to the safe functioning of Austria's capital and power markets. The company is owned and was founded by two Austrian financial institutions: Wiener Börse AG and Oesterreichische Kontrollbank AG. This ownership structure reflects CCPA's position as shared market infrastructure rather than a commercial bank serving retail customers. Its services are aimed at exchange members, trading participants and market intermediaries that need a regulated clearing house to guarantee and settle their trades. CCPA's service lines are organised around two main markets. On the securities side, it clears and settles transactions executed on the Vienna Stock Exchange, managing counterparty risk and providing the operational infrastructure for members. On the energy side, it acts as the clearing house for the EXAA electricity spot market, handling the clearing and settlement of power trades. The company also publishes fee schedules, general terms and conditions, and downloads for both the securities and electricity business, and provides onboarding information and documentation for prospective new members. Governance is provided by a management board, a supervisory board and a risk committee. The management board consists of Wolfgang Aubrunner and Kalina Jarova Müller, with Manuel Kurz serving as authorised signatory (Prokurist). Kalina Jarova Müller also serves as Chief Risk Officer, Sabine Leonhart as Chief Compliance Officer and Doris Höbart as Chief Technology Officer. Operational functions include risk management, legal and compliance, IT service management, back office and clearing operations, the latter headed by Martin Moravec. CCPA has been active for around two decades; the company marked its 20th anniversary, described as a success story, and has been the subject of ESMA stress test results. It has also become an Observer Member of CCP Global, the global association of central counterparties. As a CCP, it operates in a highly regulated environment, with requirements such as the EU's Digital Operational Resilience Act (DORA) shaping its technology and resilience obligations. Its role remains central to the functioning of Austria's securities and energy markets.

CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH was founded by Wiener Börse AG and Oesterreichische Kontrollbank AG, the two institutions that remain its owners. The company was established to serve as Austria's central counterparty for exchange-traded securities transactions, taking on the clearing, risk management and settlement functions that allow trading on the Vienna Stock Exchange to operate safely. By interposing itself between buyer and seller, CCPA assumes counterparty risk and helps ensure that transactions are completed even if one party defaults. Over time, CCPA extended its clearing services beyond securities to the energy market. It became the clearing house for the electricity spot market operated by EXAA, providing clearing and settlement for power trades. This dual role — securities and energy — reflects the company's positioning as shared market infrastructure for Austria, and it maintains separate documentation, fee schedules and operational teams for the two business lines. CCPA has operated for around two decades. The company marked its 20th anniversary, described in its own materials as a success story and covered by Börse Social Magazine. It has also been subject to European regulatory oversight, including ESMA stress tests of central counterparties, and has addressed evolving regulatory requirements such as the EU's Digital Operational Resilience Act (DORA), which treats many financial services technology functions as critical ICT services. Institutionally, CCPA has sought to connect with the wider CCP community. It became an Observer Member of CCP Global, the global association of central counterparties, giving it a link to international peers and standards. Its governance includes a management board, a supervisory board and a risk committee, with dedicated functions for risk management, legal and compliance, IT service management, back office and clearing operations. The company continues to provide onboarding information and documentation for new members in both the securities and electricity markets.

• CCP Austria founded by Wiener Börse AG and Oesterreichische Kontrollbank AG

• CCPA becomes clearing house for the EXAA electricity spot market

• CCPA marks its 20th anniversary

• CCPA becomes Observer Member of CCP Global

• ESMA stress test results published, including CCPA

Regulated Austrian central counterparty and market infrastructure provider for securities and energy spot markets, operating under the mandate of the Vienna Stock Exchange.

• Securities market clearing and settlement

  Clearing, risk management and settlement of securities transactions executed on the Vienna Stock Exchange.

• Electricity spot market clearing (EXAA)

  Clearing and settlement of power trades on the EXAA energy spot market.

• Membership onboarding

  Information and documentation for prospective new members in securities and electricity markets.

1. 1CCP Austria Abwicklungsstelle für Börsengeschäfte GmbH • CCPAccpa.at
2. 2Über die CCP Austria • CCPAccpa.at
3. 3Team • CCPAccpa.at
4. 4Kontakt • CCPAccpa.at
5. 5CCP Austria Abwicklungsstelle für Börsengeschäftewikidata.org