On 5 March 2015, in the course of its regular project meeting organised for market participants by the Hungarian CSD, KELER, the latter announced that testing and implementation of its new system BaNCS have been postponed.
The testing period was planned to start on 2 March 2015 and would have lasted until the implementation date of the new system, i.e. 4 May 2015. The revised schedule for testing and implementation has not been announced yet. The next project meeting is scheduled for next week (9-13 March 2015), where the revised schedule is expected to be announced.
UniCredit GSS Hungary will continue monitoring the developments and will keep you informed of any new information that may be forthcoming.
Impact on investors: Until the implementation of its new system, KELER will continue providing services to its clientele as it does as of now.