30 years of KELER

KELER celebrated its 30th anniversary on October 12, 2023, and on this occasion, the greeting of the CEO Mr Gábor Horváth can be read below

Dear Clients, Shareholders, Colleagues, 

On the occasion of the 30th anniversary of KELER Zrt’s foundation, I would like to say ‘thank you’ primarily to you for your continuous support. In addition to a steady background provided by our owners, the National Bank of Hungary and the Budapest Stock Exchange, our success has been driven by 30 years of continuous progress. KELER has been operating steadily and reliably for 30 years as a background institution of the Hungarian capital market, demonstrating the ability of constant revitalisation and adaption to market conditions and requirements. 

As central depository and a background institution tasked with settlement of stock exchange transactions, KELER has been developing in the past 30 years along with the markets serviced by the company. The current organisation was built from scratch in 1993 and our journey has taken us from being a record-keeping company that used squared exercise books to becoming a depository with a robust IT background. While moving and storing certificated securities securely presented the biggest challenge previously, now the biggest task is the continuous but stable development of our IT background that services marker players. 

If I were to choose milestones from the recent past only, I would certainly mention the EU’s Target-2 Securities system, which we joined in 2017, and also the EU’s CSDR operating licence, which was granted to KELER at the end of 2020 after years of preparation. And in the following year, one of the company’s most significant projects—KELER Service Development—was concluded, followed by a fining system to ensure the efficiency and security of the settlement system.

Supported by its shareholders, KELER has always considered servicing and developing the Hungarian capital market its main responsibility ever since the company was established, and this objective is not going to change in the future. KELER’s 30th birthday is not simply an anniversary but also the beginning of a new era as it is our firm commitment to meet the objectives expected by the owners with even more efficient work going forward, in addition to competently servicing domestic market players in the widest range possible. We are basing this pledge on KELER’s highly competent and committed employee pool. The professional know-how at our disposal guarantees for KELER to ensure high-standard operation of the Hungarian financial and capital market in the years ahead, and achieve professional and financial successes going forward. It should be noted that we would not have achieved our successes if not for the support provided by our clients and shareholders. 

I would like to thank again to KELER Group’s shareholders, Hungarian credit institutions, investment enterprises, issuer companies, and all capital market players, as well as all employees at KELER Group for their support in the past 30 years for helping KELER and its affiliate KELER Central Counterparty to be able to carry out their work at a high standard, focusing on business responsibilities.

It is my personal goal to continue our work at KELER as we have in the past 30 years: in the same background and with a high degree of efficiency and reliability. 

Sincerely yours
Mr Gábor Horváth, CEO