Updates on KELER’s system development program

UniCredit Bank Hungary Zrt.
KELER publishes new information on its system enhancement program (KSDP)
Wed, 01/07/2020


KELER, the Hungarian CSD,  provided information on the status of its system development program on 30 June 2020.  According to the announcement, the specification of all six modules of  the securities settlement system has been finalized and the first three units (the process between submitting an instruction and transaction matching) have already been tested successfully.  Status modification functions and procedures of the fourth component are currently under development.

According to KELER, the specification of the master database was finished in June and testing is under way in line with the schedule. Testing of the reporting and fee calculation functions is expected during the Summer months.

The KELER instruction catalogue has been updated and MX message formats have been uploaded to SWIFT MyStandards. Detailed MT message format information is expected to be published on 3 July, 2020 while end-of day MT message types will be available as of 15 July, 2020.

Impact on investors: The analysis of the specification document is ongoing, investors and affected parties will receive detailed information on KSDP as soon as they become available