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KELER Group
The KELER Group (for , ) is a financial market infrastructure in Hungary, based in Budapest. It consists of two companies: KELER CSD, a central securities depository established in 1993; and KELER CCP, a central counterparty clearing house established in 2008. The KELER Group is majority-owned by the Hungarian National Bank (MNB). Overview KELER CSD is owned by the MNB (53.33 percent) and the Budapest Stock Exchange (BSE, 46.67 percent). KELER CCP is in turn mainly owned by KELER CSD (99.81 percent), with the MNB holding 0.1 percent and the BSE holding 0.09 percent. In 2015, the MNB also acquired majority control of the BSE, in which it held an equity stake of 81.35 percent as of . KELER CSD has been connected to TARGET2-Securities since 2017. In addition to ownership, both KELER CSD and KELER CCP are under the MNB's oversight. See also * European Central Securities Depositories Association * CCP Global CCP Global (CCPG) is a global body that brings together central counterpa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Market Infrastructure
Financial market infrastructure refers to systems and entities involved in Clearing (finance), clearing, Settlement (finance), settlement, and the recording of payments, Security (finance), securities, Derivative (finance), derivatives, and other financial transactions. Depending on context, financial market infrastructure may refer to the category in general, or to individual companies or entities (thus also used in plural: financial market infrastructures). Examples Examples of financial market infrastructure firms include payment systems, Settlement (finance), securities settlement systems, Central counterparty clearing, central counterparties, Central securities depository, central securities depositories, and Trade Repository, trade repositories. Some financial infrastructures have a global reach, such as financial messaging service SWIFT, foreign-exchange settlement service provider CLS Group, and international central securities depositories Euroclear Bank and Clearstream ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungary
Hungary is a landlocked country in Central Europe. Spanning much of the Pannonian Basin, Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia and Slovenia to the southwest, and Austria to the west. Hungary lies within the drainage basin of the Danube, Danube River and is dominated by great lowland plains. It has a population of 9.6 million, consisting mostly of ethnic Hungarians, Hungarians (Magyars) and a significant Romani people in Hungary, Romani minority. Hungarian language, Hungarian is the Languages of Hungary, official language, and among Languages of Europe, the few in Europe outside the Indo-European languages, Indo-European family. Budapest is the country's capital and List of cities and towns of Hungary, largest city, and the dominant cultural and economic centre. Prior to the foundation of the Hungarian state, various peoples settled in the territory of present-day Hun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budapest
Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by population within city limits and the List of cities and towns on the river Danube, second-largest city on the river Danube. The estimated population of the city in 2025 is 1,782,240. This includes the city's population and surrounding suburban areas, over a land area of about . Budapest, which is both a List of cities and towns of Hungary, city and Counties of Hungary, municipality, forms the centre of the Budapest metropolitan area, which has an area of and a population of 3,019,479. It is a primate city, constituting 33% of the population of Hungary. The history of Budapest began when an early Celts, Celtic settlement transformed into the Ancient Rome, Roman town of Aquincum, the capital of Pannonia Inferior, Lower Pannonia. The Hungarian p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Securities Depository
A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities such as shares or bonds, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily transferred through a book entry rather than by a transfer of physical certificates. This allows brokers and financial companies to hold their securities at one location where they can be available for clearing and settlement. In recent decades this has usually been done electronically, making it much faster and easier than was traditionally the case where physical certificates had to be exchanged after a trade had been completed. In some cases these organizations also carry out centralized comparison and transaction processing such as clearing and settlement of securities transfers, securities pledges, and securities freezes. In modern corporate debt markets, investors achieve collateralization through CSDs. The CSDs operate as trustee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Counterparty Clearing House
A central clearing counterparty (CCP), also referred to as a central counterparty, is a financial market infrastructure organization that takes on counterparty credit risk between parties to a transaction and provides clearing (finance), clearing and settlement (finance), settlement services for trades in wikt:foreign exchange, foreign exchange, Security (finance), securities, Option (finance), options, and derivative contracts. CCPs are highly regulated institutions that specialize in managing counterparty credit risk. CCPs "mutualize" (share among their members) counterparty credit risk in the markets in which they operate. A CCP reduces the settlement risks by netting offsetting transactions between multiple counterparties, by requiring Collateral (finance), collateral deposits (also called "Margin (finance), margin deposits"), by providing independent valuation of trades and collateral, by monitoring the creditworthiness of the member firms, and in many cases, by providing a gua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian National Bank
The Hungarian National Bank ( , MNB) is the central bank of Hungary and as such part of the European System of Central Banks (ESCB). It was established in 1924 as a successor entity of the Austro-Hungarian Bank, under the economic assistance provided to Hungary by the Economic and Financial Organization of the League of Nations. The bank calls itself the Magyar Nemzeti Bank in its English communications and occasionally clarifies that name with the expression ''the central bank of Hungary''. The bank doesn't call itself the ''Hungarian National Bank'' in English. The Hungarian National Bank lays special emphasis on its international relations and on participation in the professional forums of international economic institutions and financial organisations (EU, IMF, OECD, BIS). Its principal aim is price stability, but it is also responsible for issuing the national currency, the Hungarian forint, controlling the money in circulation, setting the Central Bank base rate, publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budapest Stock Exchange
Budapest Stock Exchange (BSE) (, (BÉT)) is the Stock exchange, third largest stock exchange in Central and Eastern Europe by market capitalization and Market liquidity, liquidity. It is located at 55 Krisztina Boulevard, Budapest, Hungary, in the Buda Centre of the Hungarian National Bank Previously, from 1864, during the Austria-Hungary, Austro-Hungarian Empire it was located in the Budapest Stock Exchange Palace building, until a large trading floor was necessary. The Hungarian National Bank holds an equity stake of 81.35 percent in the Budapest Stock Exchange, following a takeover transaction in 2015. The BSE is member of the World Federation of Exchanges and the Federation of European Securities Exchanges. Since its reinstatement in 1990, the Budapest Stock Exchange accounts for all the turnover in the Hungarian market and a large share of the Central and Eastern European market. In 2007, BSE agreed to move to abolish floor trading, the trading today takes place via the X ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TARGET2-Securities
TARGET2-Securities, in shorthand T2S, is the Eurosystem's platform for securities settlement in central bank money. T2S offers centralised delivery-versus-payment (DvP) settlement across several European securities markets, without being itself a central securities depository (CSD) since it does not offer CSD services such as custody or asset servicing. T2S is one of the Eurosystem's TARGET Services, together with T2 and TARGET Instant Payment Settlement (TIPS) for cash payments. Background Historically, financial market infrastructures in Europe were created to meet the requirements of national financial markets. In most cases, there were one or two dominant players at each stage of the value chain: typically one stock exchange for trading, one central counterparty (CCP) for clearing and at least one CSD for settlement. Furthermore, these national infrastructures were primarily designed to manage securities denominated in the national currency. Securities settlement across ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Securities Depositories Association
European Central Securities Depositories Association (ECSDA) is the official trade association for the Central Securities Depository industry in Europe. The association provides a forum for Central Securities Depositories (CSDs) to exchange views and take forward projects of mutual interest. It aims to promote a constructive dialogue between the CSD community, European and Global public authorities and other stakeholders aiming at contributing to an efficient and risk-averse infrastructure for financial markets. It is one of five regional CSD associations oWorld Forum of CSDs History The history of the ECSDA dates back to the early 1990s, when CSD chief executives started to meet on a regular basis to exchange best practices and prepare for the adoption of the euro. The idea of formalising these contacts in an association emerged in 1995 at a meeting taking place at the European Monetary Institute in Frankfurt. The association was established in November 1997 with the signature ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CCP Global
CCP Global (CCPG) is a global body that brings together central counterparty clearing houses (CCPs) from the world's major jurisdictions. Overview CCP Global was originally formed in 2001 as an informal group named CCP12 by twelve founding CCPs, and established a permanent executive committee in 2008. In 2015, it decide to evolve into a non-profit organization that opened in Shanghai in 2017. In 2022, CCP12 relocated to Amsterdam Amsterdam ( , ; ; ) is the capital of the Netherlands, capital and Municipalities of the Netherlands, largest city of the Kingdom of the Netherlands. It has a population of 933,680 in June 2024 within the city proper, 1,457,018 in the City Re ... and, given expanded membership, rebranded as CCP Global in 2023. Membership As of early 2025, the members of CCP Global were as follows. * Argentina Clearing * Australian Securities Exchange (ASX) * Bursa Malaysia * Brasil Bolsa Balçao (B3) * Cboe Clear * Cámara de Riesgo Central de Cont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Securities Depositories Of Europe
Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as Middle Africa * Central America, a region in the centre of America continent * Central Asia, a region in the centre of Eurasian continent * Central Australia, a region of the Australian continent * Central Belt, an area in the centre of Scotland * Central Europe, a region of the European continent * Central London, the centre of London * Central Region (other) * Central United States, a region of the United States of America Specific locations Countries * Central African Republic, a country in Africa States and provinces * Blue Nile (state) or Central, a state in Sudan * Central Department, Paraguay * Central Province (Kenya) * Central Province (Papua New Guinea) * Central Province (Solomon Islands) * Central Province, Sri Lan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
