ADVERTISEMENT

Keler Hungary to join Target2-Securities

Awards

pixabay

Central clearing house and depository Keler Hungary will join Target2-Securities, the pan-European platform for securities settlement, in the fourth wave in February 2017, according to a press release issued Tuesday.

According to the website of the European Central Bank, "Target2-Securities, more commonly known as T2S, is a single, pan-European platform for securities settlement in central bank money. It brings substantial benefits to the European post-trading industry and is one of the largest infrastructure projects launched by the Eurosystem so far."

Joining the platform is considered by the Hungarian company to be one of the most important milestones in Keler’s CEE regional strategy to ensure a single entry point to the region’s securities markets, the press statement noted. 

As a participating non-euro country in T2S, Keler has mandated Société Générale Securities Services to provide liquidity management and collateral transformation solutions. The co-operation ensures DVP/RVP securities settlements in euro-denominated transactions for Keler and its clients.

The mandate will take effect once Keler connects to T2S.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.