Update on developments of KELER in 2024

UniCredit Bank Hungary Zrt.
Thu, 08/08/2024

KELER, the Hungarian CSD has published additional information on its development plans for 2024, providing an update on the status of key development projects that directly affect market participants, as well as the technical content and timing of these projects.

The most significant development this year is likely to be the introduction of partial release functionality. The CSD has provided further technical details of the new process and confirmed that KELER clients will be able to test the functionality prior to implementation in November 2024.

KELER has also announced information on the developments to the CAPS system which will be implemented in two phases, as the long-term goal of the project is to create a central register of corporate actions, a so-called Golden Source. In addition to the introduction of new security types, new event types and new functionality will be added to make the system more user-friendly.  Client testing is planned for October 2024, while the launch is scheduled for November 2024.

Our previous communication on this subject can be found on the GSS website at the following link: KELER published further details on Strategic plan | Custody | UniCredit Group

Impact on investors:  Some changes are expected in relation to securities settlement and corporate events procedures for direct KELER clients. The published information is currently being analysed to determine the changes that will directly affect investors. Further information will be distributed by the Relationship Managers.