On 16 December 2020 KELER the Hungarian CSD was granted the authorisation for operation in accordance with CSDR by the Hungarian Supervisory Authority (the Central Bank of Hungary).
The authorisation brings a number of legal and operational changes which are detailed in the press release published by KELER at the following link: https://english.keler.hu/kelernews/?id=1007272
Impact on investors: By receiving the CSDR license KELER is now authorized to operate in line with CSDR rules. As per our Newsflash sent on 7 October 2020 (https://gss.unicreditgroup.eu/markets/hungary/newsflashes/update-keler-service-development-program), KELER is going introduce the KSDP program in November 2021 while the penalty mechanism and the buy-in procedure will be launched in February 2022.