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KELER KSZF A new ECC clearing entity

KELER KSZF A new ECC clearing entity. 7 April, Budapest Károly Mátrai Managing Director, KELER KSZF. KELER Zrt. – CSD Founded in 1993 Banking license, supervised by HFSA and NBH CCP role till 2009 Shareholders’ equity (EoY 2009): HUF 15,7 billion (EUR 58 m) KELER KSZF Kft. – CCP

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KELER KSZF A new ECC clearing entity

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  1. KELER KSZFA new ECC clearing entity 7 April, Budapest Károly Mátrai Managing Director, KELER KSZF

  2. KELER Zrt. – CSD Founded in 1993 Banking license, supervised by HFSA and NBH CCP role till 2009 Shareholders’ equity (EoY 2009): HUF 15,7 billion (EUR 58 m) KELER KSZF Kft. – CCP Founded in 2008 Supervised by HFSA and NBH Started operation 1 Jan, 2009 Shareholders’ equity (EoY 2009): HUF 246,5 m (EUR 0,9 m) KELER Group - Introduction

  3. KELER Group - Clients • Custodians • Issuer companies • Credit institutions • Brokerage companies • Commodity Service Providers • Gas trading companies • National Bank of Hungary

  4. KELER Group - Services • Securities and cash account management • Issuer services • ISIN allocation • dematerialization • share registry • Cross-border settlement • Collateral management • Central counterparty service

  5. KELER KSZF - CCP services • Cleared markets: • BSE cash products (equities, bonds, ETFs, certificates) • BSE derivatives (share, indices, FXs, commodities) • Gas balancing market (day-ahead, capacity) • HUPX as of 1 July, 2010

  6. General clearing model EPEX / HUPX ECC TRADING TRADING CLEARING GCM1 GCM2 T1 T2 T3 T4 T1 T2 T3 T4

  7. Factors to be considered Trading members have to choose a general clearing member! • Credit risk (counterparty risk) • Legal risk • Communication • Costs

  8. KELER KSZF as a GCM • Limited credit risk, strong financial and ownership background • Efficient risk management methodology • Long and prosperous history in Hungarian financial market • Competitive, transparent fees • Wide range of services • Hungarian legislative framework • Hungarian communicative environment

  9. Services for HUPX Members • KELER KSZF • Settlement in HUF • Collateral management (HUF, EUR denominated collaterals) • Reporting in Hungarian • KELER • Banking services • HUF/EUR conversion • Internet communication via KID • Help Desk 07-22h (in Hungarian)

  10. Risk management Risk Management tools: • Membership requirements • Margin requirements • Collateral management

  11. How to become a member of KELER KSZF • Sign a Membership Agreement with KELER KSZF • Sign an NCM Agreement and Application form with ECC • Comply with Business Rules of KELER KSZF • Sign a Service Agreement with KELER (includes settlement management, cash and securities accounts management) • KID Agreement for Internet banking • Provide collateral to KELER KSZF in cash or securities

  12. Steps to do • Give back-office contact details • Visit our website for more information: (www.kelerkszf.hu; www.keler.hu) (3) Visit our Client Office at 1075 Budapest Asbóth street 9-11.

  13. www.kelerkszf.humatrai.karoly@kelerkszf.hu phone: (+36)-1-483-6230

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