An intensive exchange of information between the investor and the bank is the basis for any responsible business relationship. WAG 2007 stipulates that banks, prior to providing financial services, must inform customers in detail about the bank and the services it offers. Investors are to be given a clear picture of the framework conditions under which they are carrying out their treasury and securities transactions.
The scope of disclosure obligations varies depending on the investor category. The more experience a customer possesses with regard to individual financial instruments, the more expert knowledge may be taken for granted under WAG 2007.
The detailed information on Bank Austria for investors required in accordance with WAG 2007 is given below.
Information about Bank Austria
The Company Profile provides you, as investor, with information regarding the services and activities of Bank Austria. It also details the type, frequency and timing of reports on services rendered and provides information on deposit guarantee and investor compensation.
Company profile of Bank Austria
Information regarding the execution policy in the best possible interest of the customer
The execution Policy of Bank Austria lays down the principles for the execution of customer orders for the acquisition and disposal of financial instruments in the customer’s best interest. This set of rules governing order execution was compiled to ensure that best possible results are obtained for the customer in executing orders.
The criteria according to which transactions are concluded must be transparent and comprehensible for the customer.
The bank is required to establish its execution policy in line with legal requirements.
Bank Austria’s execution policy was drawn up taking into account the following aspects:
- The price of the financial instrument.
- The costs related to the execution of the order.
- The speed of execution.
- The probability of executing and processing the order.
- The size and type of the order.
- All other aspects relevant to achieving the best possible results in the execution of the order.
For "retail customers", achievement of the best possible result is assessed on the basis of total costs, that is, the price of the financial instrument plus the costs involved in order execution.
Bank Austria’s execution policy is designed to optimise all these factors to the best possible benefit of the customer. However, as regards the establishment of the best possible venue for executing orders, this venue cannot in each individual case be guaranteed to obtain the objectively best possible result on a consistent basis.
Information regarding charges for securities services offered
Pursuant to WAG 2007, the bank is obligated to inform customers in advance of the costs involved in the execution of securities and treasury transactions. These costs include all expenses arising for a customer in direct relation to the execution of an order as well as any fees and charges paid to third parties involved in executing the order.
The list of fees and charges for securities services of Bank Austria and information on the costs involved in the execution of treasury transactions are available from your relationship manager at Bank Austria.