The bank account kept by KELER is suitable to effect the following transactions: • transfer between the accounts of the same account holder • transfer between accounts kept by KELER • orders initiated in favor of accounts kept by other financial institutions o GIRO (batch transaction processing) o VIBER (real time transaction processing) • fund movements related to corporate actions, • FX deals. • based on authorization by KELER CCP and/or the Client: o debit, credit transactions, FX deals initiated at the discretion of KELER that are necessary to provide clearing services in Forint  for financial settlement with gross DVP settlement (including daily DVP creation and cancellation transactions of investment funds also),  for securities transactions involved in securities clearing. Credits The credits executed by KELER can be completed as follows: Transfer between accounts kept by KELER The transfer between accounts kept by KELER is settled immediately if the instruction is submitted prior to the cut-off time valid on the given day. More details on cut-off times are available at: www.keler.hu. Intra-day (IG2) transfer and nighttime clearing (IGI) The amounts of incoming Forint payments received in the GIRO system are credited to Client accounts on the value date of receipt by KELER. VIBER (real time) transfer Items received in favor of our Clients are credited within two hours of receipt.   Debits The following debits can be performed in the bank accounts kept by KELER: Transfer between accounts kept by KELER The transfer between accounts kept by KELER is settled immediately if the instruction is submitted prior to the cut-off time valid on the given day. More details on cut-off times can be found at: www.keler.hu. Settlement of collection by authorities Collection orders by authorities are settled in IG1 in line with the valid requirements of regulations. Intraday (IG2) transfer order In line with the so-called “4-hours rule” stated in the order of the Magyar Nemzeti Bank as of 2 July 2012 payment service providers ensure that domestic Forint payments initiated electronically by their clients during the period of so-called subject day (i.e. same day) settlement (until the final cut-off) are sent to the payment service provider of the beneficiary within 4 hours at the latest. The order also guarantees that the amounts of payments thus forwarded are available to the beneficiary without delay. Domestic Forint payments requiring no conversion (FX) between different foreign currencies are subject to the 4-hours rule where the payment service providers of both the payer and the payee undertake activities in Hungary. More details on cut-off times can be found at: link. Real time (VIBER) transfer order Payment method recommended for the execution of large amount and urgent transfer orders. The orders submitted in the VIBER system are settled within the day (within two hours) if the instruction is submitted before the cut-off time valid on the given day. The cash leg of DVP and other capital market transactions is cleared in the VIBER system. More details on cut-off times can be found at: link.
The foreign currency account managed by KELER is suitable to effect the following transactions: • transfer between the accounts of the same account holder • transfer between accounts managed by KELER • orders initiated in favor of accounts managed by other financial institutions • fund movements related to corporate actions • foreign exchange conversion • credit and debit transactions initiated by the nostro account manager of KELER • based on authorization by KELER CCP and/or the Client: o debit, credit transactions, FX deals initiated at the discretion of KELER that are necessary to provide clearing services in foreign currency  for financial settlement with gross DVP settlement (including daily DVP creation and cancellation transactions of investment funds also),  for the clearing of trades concluded on XETRA  for trades in international securities involving cross-border securities clearing  for the settlement of regulated market trades in foreign currencies  for energy market settlement. Credits The credits executed by KELER can be completed as follows: Transfer between accounts kept by KELER The transfer between accounts kept by KELER is settled immediately if the instruction is submitted prior to the cut-off time valid on the given day. More details on cut-off times can be found at: www.keler.hu. Credits received from accounts managed by other financial institutions Credits to the foreign currency accounts kept by KELER for our Clients are completed with the cooperation of the outsourced account managers of KELER. The list of available currencies can be found here: link. Our Clients are kindly reminded that KELER and the outsourced account managers cannot guarantee the value dated crediting of incoming payments without pre-advice. More details on foreign currency payment services by KELER can be found in the Depository Announcement on Foreign Currency Payments: link. Debits Debits by KELER can be settled as follows: Transfer between accounts kept by KELER The transfer between accounts kept by KELER is settled immediately if the instruction is submitted prior to the cut-off time valid on the given day. More details on cut-off times can be found at: www.keler.hu. Order in favor of an account managed by other financial institutions KELER settles foreign currency payment orders with the cooperation of account manager banks. Orders in the major currencies are executed on the subject day; orders in other currencies are executed on the first or second banking day after the subject day if the instruction is submitted before the cut-off applicable to the currency concerned. More details on cut-off times can be found at: www.keler.hu. Foreign exchange KELER offer Clients FX services in the currencies published. More information on the currencies that can be converted and the cut-offs to receive and execute orders can be found at: link (befogadási határidőkről szóló ÉTL).
KELER offers Clients Teller services through Unicredit Bank Hungary Zrt. Clients can deposit cash to their bank account kept by KELER in any branch of Unicredit Bank Hungary Zrt.. Cash withdrawal by Clients is possible with cash delivery to the registered offices of our Client only. More details on the execution of teller transactions can be found at: link (pénztárról szóló ÉTL). Related documents: Depository Announcement on Cut-off times Depository Announcement on Foreign Currency Payments Depository Announcement on Teller Services General Business Rules Fee Schedule
In 2003 Magyar Villamosenergia-ipari Rendszerirányító Zrt. (MAVIR) selected KELER as the custodian of financial collaterals related to the so-called balancing energy market designed to promote the secure operation of the liberalized power market. The service consists of account management for MAVIR and balance group managers, risk management, verification and valuation of collateral. The agreement was a major step towards the creation of the organized power market (exchange) and thus the creation of related clearing.
As central counterparty KELER CCP guarantees the clearing of trades in the following capital and energy markets: Capital market: • Budapest Stock Exchange • BÉTa MTF market • MTS Hungary Energy market: • Balancing Platform • Central Eastern European Gas Exchange CEEGEX The cash accounts opened by KELER can be used for the financial settlement of trades cleared by KELER CCP, with respect to such accounts all credit institution services offered by KELER can be used. More details on services offered by CCP can be found at the link below.