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Xtend set for start at Budapest Stock Exchange

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Photo courtesy Budapest Stock Exchange

Xtend, the Budapest Stock Exchange (BSE) market designed for medium-sized companies is ready for start. Trading will be as transparent and secure on Xtend as on the traditional markets of the BSE, KELER CCP, provider of clearing services announced.

Trading on Xtend, the market tailored for medium-sized companies by the Budapest Stock Exchange, can be started at any time as all the necessary conditions for clearing are met, KELER CCP Ltd., the provider of central clearing and guarantee undertaking services, said in a press release sent to Budapest Business Journal.

"We have received all the necessary licenses and approvals, and made possible the provision of clearing services for trading on Xtend. [It] did not require additional IT developments or equipment as we will provide clearing based on the existing infrastructure,” said Károly Mátrai, KELER CCP Ltd.ʼs CEO.

The services offered for Xtend fit the expansion strategy of KELER CCP as the company is seeking new targets in both Hungarian and the regional markets for which it can provide clearing services.  KELER CCPʼs income last year amounted to HUF 1.27 billion, an increase of 11 %, and this year income is expected to reach HUF 1.37 billion, an increase of 5%.

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