Update on KELER Service Development Program

UniCredit Bank Hungary Zrt.
KELER, the Hungarian CSD, held a workshop on KELER Service Development Program (KSDP)
Wed, 07/10/2020

Market players were invited to join the KSDP related workshop organized by KELER where participants were presented with updates on the KSDP developments and on the  timeline of  market test and implementation.

According to the plans KELER user acceptance test will take place between January - April 2021 which will be followed by two phases of connectivity tests in April-June, 2021. Market test are also planned in two phases between June-July and September - November, 2021.

The go- live date of  KSDP developments is planned for the end of November/early December 2021 and this launch will implement all newly developed securities settlement- and reporting functionalities.   Live tests of the penalty reporting procedures will start parallel with the system launch while the go-live date of the penalty bookings and buy-in reporting is 1 February 2022.

As communicated earlier, KELER has recently changed the launch date of the KELER KSDP program from March 2021 to the end of November/December 2021. Please find our previous newsflash in this topic on the following link: https://gss.unicreditgroup.eu/markets/hungary/newsflashes/postponement-keler-service-development-program

Impact on investors: According to the  KSDP timeline,  the first round of system tests for KELER clients is planned for January 2021. UniCredit GSS is currently analysing the proposed schedule and will keep you updated on any further relevant information.