Its direct clients include, among others: investment firms, credit institutions, commodity brokers, investment fund managers, energy (electricity and gas) market players and securities issuers. KELER enables the securities transactions, that is the exchange of funds and securities between the market participants to settle quickly, efficiently, mitigating any risk.
The most important service areas offered to commercial banks and credit institutions are securities custody and account maintenance, treasury and banking services. All of them are available via electronic interfaces such as KID System of SWIFT.
Securities custody and account maintenance
Credit institutions and investment firms are entitled to open securities accounts directly with KELER. Our clients are free to choose further segregation to sub-accounts under their main accountsopened in their own name
In line with international standards, settlement is performed on KELER’s securities accounts on a delivery versus payment (DVP) or a free of payment (FOP) basis.
The cash leg of a DVP securities settlement can settle on cash accounts maintained either by KELER or by the National Bank of Hungary in its real time gross settlement system, VIBER.
Banking services
Closely attached to its securities service offering, KELER provides its clients with cash management services in local currency, but also maintains cash accounts in foreign currency.
These cash accounts primarily serve as the basis for a financial settlement of a stock exchange deal or a securities transaction, but special custody accounts are also available for this purpose. Interest is paid by KELER on the balances of these accounts.
KELER maintains accounts in 41 foreign currencies to support foreign currency based transactions, to be able to receive yield payments of foreign securities for its members and to enable foreign exchange conversions.
Treasury services
Our treasury is responsible for ensuring the continuous liquidity of KELER by investing its available own and third party funds. It takes on an active role on the capital and interbank market by trading in currency, interests and goverment securities. KELER has been acknowledged as a reliable partner on the local and international market due to its conservative investment policy and its central and independent role. Our colleagues’ expertise and extensive trading experience are guarantees for success.
Our clients can choose from the following services of KELER Treasury:
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Capital market deals (repo deals, purchase and sale of goverment securities, securities lending);
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High earning interest account;
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Currency deals.