MNB signs cooperation deal with Budapest, Warsaw bourses
Image courtesy of Budapest Stock Exchange (BÉT)
The National Bank of Hungary (MNB) has signed a cooperation agreement with the Budapest Stock Exchange and the Warsaw Stock Exchange to establish a joint holding company that will provide regional clearing services, the Budapest bourse said in a release on its website.
The JV, dubbed Central Post-Trade Solutions, could become the owner of Hungarian clearing house Keler KSZF and Polish energy market clearing house IRGIT.
Keler KSZF is owned by the MNB and the Budapest Stock Exchange, which is majority-owned by the MNB. IRGIT is owned by the Polish Power Exchange (TGE), a unit of the Warsaw Stock Exchange. Under the memorandum of understanding approved by the parties, TGE would become the majority owner of Central Post-Trade Solutions.
The agreement establishes a deadline for signing a JV contract of Sep. 30, 2022, after due diligence at Keler KSZF and IRGIT is completed.
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