WARP (Wide Application Routing Platform), an automated electronic platform, has been developed by the Hungarian CSD, KELER, to cover the end-to-end process of Hungarian investment units distribution and integrates all market participants involved, automating the processes to the greatest extent possible. The new platform will be capable of handling significant volumes of transactions on fully automated basis and will reduce the number of errors by increasing process efficiency. Additionally, WARP will promote the growth of the distribution network and facilitate the access to domestic funds, thus strengthening the competitiveness of the participants in the domestic funds market.
Prior to the introduction of this new electronic platform, planned for 8 April this year, KELER will organise a testing period from 26 February to 8 March with the involvement of all relevant market participants, i.e. fund managers, distributors and custodians. The test results and the overall testing experience will be analysed by KELER and used for improving the system before its go-live date. In advance of the testing period, KELER will also hold presentations and trainings for the participants on 25 and 26 February.
Impact on investors: The new electronic platform will consolidate the investment funds market and will mitigate the risks of the current manual distribution process. The introduction of WARP will not result in any changes in the process how distributors and custodians collect instructions from their clients and will therefore not have a direct impact on investors.