Update on KELER’s system replacement project

UniCredit Bank Hungary Zrt.
KELER announced that the go live date of BaNCS (KELER’s new system) has been further postponed from the previously announced implementation date of 21 November 2016
Mon, 24/10/2016

KELER, the Hungarian CSD announced that the go live date of its new system, which was planned for 21 November 2016, will be further postponed. The decision was taken by KELER's Board of Directors on the basis of feedback and opinions received from various market participants during the latest Beta Test Group meeting.

KELER is currently analysing the situation along with the vendor and has initiated the preparations for the re-scheduling plans during which, KELER will take the requirements and needs communicated by KELER’s direct participants into consideration. No new implementation date has been announced at this stage.

Due to the postponement of the implementation of KELER’s new system, the establishment of a BCP solution for T2S processes has become necessary. The previously published T2S BCP proposal of KELER will be elaborated on and finalized together with the market participants. In order to make an effort in this regard, KELER will hold a workshop on Wednesday, 26 October 2016.

Impact on investors: KELER’s new system (BaNCS) go live date has been further postponed. No new implementation date has been communicated at this stage.