KELER CCP

KELER CCP (also known as KELER KSZF) is the central counterparty (CCP) of Hungary, headquartered in Budapest. It was founded in 2008 by KELER, the Hungarian National Bank (MNB), and the Budapest Stock Exchange (BSE), and began operations on 1 January 2009, taking over the CCP function for the BSE. As part of the KELER Group, it plays a critical role in the Hungarian financial infrastructure by managing counterparty risk and ensuring the smooth operation of clearing markets. It also serves as the National Numbering Agency for Hungary. The company provides clearing, central counterparty, and risk management/guarantee services. It serves five Budapest financial market trading venues: the Budapest Stock Exchange (BÉT), BÉTa Piac, Xtend Piac, XBond Piac, and MTS Hungary. In the gas market, KELER KSZF provides guarantee and clearing services for Hungarian platforms operated by FGSZ Zrt., FGSZ KP Kft., CEEGEX Zrt., and HUDEX Energiatőzsde Zrt., as well as for transaction types available on the Bulgarian gas market platform operated by Balkan Gas Hub EAD. In the energy market, as a general clearing member of European Commodity Clearing AG (ECC), KELER KSZF provides its sub-clearing members with access to major European spot and futures energy markets: EEX, EPEXSPOT, HUDEX power, HUPX, NOREXECO, PXE, SEEPEX/BSP, and SEMOpx. KELER CCP has been a participant in the Hungarian financial market and the Hungarian and international energy markets for nearly 20 years. It is an EMIR-authorised central counterparty and a leading clearing house in Central and Eastern Europe. The company regularly publishes updates on its rules, fee schedules, and operational notices, such as changes to settlement and delivery schedules due to bank holidays and data reporting obligations for gas market clearing members.

KELER CCP was founded in 2008 by KELER, the Hungarian National Bank (MNB), and the Budapest Stock Exchange (BSE). It commenced operations on 1 January 2009, assuming the role of central counterparty for the BSE. In 2010, KELER CCP expanded its service portfolio and began clearing transactions on the Hungarian natural gas balancing platform, and offered services for non-clearing members on the HUPX market. In 2011, KELER CCP was converted into a limited liability company. Since then, it has continued to provide clearing and guarantee services for various Hungarian financial markets and energy markets, and as a general clearing member of European Commodity Clearing AG (ECC), it provides access to major European energy markets for its sub-clearing members.

• 2011

  Converted into a limited liability company.

• 2010

  Expanded services to clear transactions on the Hungarian natural gas balancing platform and offered services for non-clearing members on the HUPX market.

• 2009

  Began operations on 1 January, taking over the central counterparty function for the BSE.

• 2008

  Founded by KELER, Hungarian National Bank (MNB), and Budapest Stock Exchange (BSE).

EMIR-authorised leading clearing house in Central and Eastern Europe

• Central counterparty clearing

• Guarantee services

• Risk management

• Securities market clearing

• Energy market clearing

• Gas market clearing

1. 1KELER KSZF - Főoldalkelerkszf.hu
2. 2Keler CCP - Wikidatawikidata.org
3. 3Keler CCP - Wikipedia (German)de.wikipedia.org