As communicated earlier, KELER, the Hungarian CSD has implemented its new settlement system over the weekend of 3-5 December, 2021.
KELER completed the transition according to plans and no disruption or incident was reported during the migration weekend. Today, the opening procedures of the business day were successfully completed, however KELER announced a 1 hour intermission in SWIFT processing with its clients and the Central Bank of Hungary (CBH) at 9:15 a.m. CET. The temporary halt has no effect on the communication of UniCredit Hungary GSS with KELER, however there may be delays in the settlement of the versus payment trades.
Furthermore, the officially published matching BIC code list effective as of 6 December will be shortly updated by KELER, as one of the matching BIC code needs to be changed.
UniCredit Hungary GSS will continue to monitor the new environment and keep our partners informed of any further developments in the day ahead.
Impact on investors: KELER has concluded its transition to the new settlement system; new securities settlement standards, SWIFT message rules and procedures are effective as of today.