KELER

KELER stands for Központi Elszámolóház és Értéktár Zrt., which translates to Central Settlement and Depository Company Ltd. It is the central securities depository and the primary clearing house for Hungary. KELER plays a crucial role in the functioning of the Hungarian financial markets by ensuring the smooth settlement of securities transactions and the safekeeping of financial instruments.

Established in 1994, KELER provides a range of services essential for capital market operations. These include the settlement of trades executed on regulated exchanges and other trading venues, as well as over-the-counter transactions. The company also facilitates the custody and administration of securities, acting as a central registrar for dematerialized securities. Furthermore, KELER is involved in corporate actions, such as dividend payments and capital increases, on behalf of issuers.

The primary objective of KELER is to maintain the stability and efficiency of the financial system by mitigating settlement risk. It ensures that transactions are completed accurately and on time, thereby building confidence among market participants. KELER operates under the supervision of the Hungarian National Bank, adhering to strict regulatory requirements to guarantee the security of assets and the integrity of market processes. Its services are indispensable for banks, brokers, investment firms, and other financial institutions operating in Hungary.