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KELER CCP
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 counterp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Market Infrastructure
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungary
Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the 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 has a population of nearly 9 million, mostly ethnic Hungarians and a significant Romani minority. Hungarian, the official language, is the world's most widely spoken Uralic language and among the few non- Indo-European languages widely spoken in Europe. Budapest is the country's capital and largest city; other major urban areas include Debrecen, Szeged, Miskolc, Pécs, and Győr. The territory of present-day Hungary has for centuries been a crossroads for various peoples, including Celts, Romans, Germanic tribes, Huns, West Slavs and the Avars. The foundation of the Hungarian state was established in the late 9th century AD with the conquest of the Carpat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budapest
Budapest (, ; ) is the capital and most populous city of Hungary. It is the ninth-largest city in the European Union by population within city limits and the second-largest city on the Danube river; the city has an estimated population of 1,752,286 over a land area of about . Budapest, which is both a city and county, forms the centre of the Budapest metropolitan area, which has an area of and a population of 3,303,786; it is a primate city, constituting 33% of the population of Hungary. The history of Budapest began when an early Celtic settlement transformed into the Roman town of Aquincum, the capital of Lower Pannonia. The Hungarians arrived in the territory in the late 9th century, but the area was pillaged by the Mongols in 1241–42. Re-established Buda became one of the centres of Renaissance humanist culture by the 15th century. The Battle of Mohács, in 1526, was followed by nearly 150 years of Ottoman rule. After the reconquest of Buda in 1686, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Securities Depository
A central securities depository (CSD) is a specialized financial organization holding securities like shares In financial markets, a share is a unit of equity ownership in the capital stock of a corporation, and can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Share capital refers to all of the shares of an ..., 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. This is usually 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 an ... [...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 institution that takes on counterparty credit risk between parties to a transaction and provides clearing and settlement services for trades in foreign exchange, securities, 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 deposits (also called "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 guarantee fund that can be used to cover losses that exceed a defaulting member's collateral on deposit. CCPs require a pre-set amount of collateral — referred to as � ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian National Bank
The Hungarian National Bank ( hu, Magyar Nemzeti Bank (MNB)) is the central bank of Hungary and as such part of the European System of Central Banks (ESCB). The Hungarian National Bank was established in 1924 and succeeded the Royal Hungarian State Bank, which introduced the Hungarian forint on 1 August 1946. 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 forint, controlling the money in circulation, setting the Central Bank base rate, publishing official exchange rates, and managing the foreign-exchange reserves and gold to influence exchange rates. Operations The Governor of the Hungarian National Bank is appointed by the President of Hungary at the proposal of the Prime Minister for a six-year term. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budapest Stock Exchange
Budapest Stock Exchange (BSE) ( hu, Budapesti Értéktőzsde (BÉT)) is the 2nd largest stock exchange in Central and Eastern Europe by market capitalization and liquidity. It is located at 55 Krisztina Boulevard, Budapest, Hungary, in the Buda Centre of the Hungarian National Bank Previously, from 1864, during the Austro-Hungarian Empire it was located in the Budapest Stock Exchange Palace building, until a large trading floor was necessary. The exchange is controlled by listed issuers, by Hungarian private investors and by the central bank. 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 Xetra system, with redundant floor brokers taking on the role of ... [...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 E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Securities Depositories Association
European Central Securities Depositories Association (ECSDA) is the official association of 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. Management Since May 2017, ECSDA is led bAnna Kulik Secretary General of the association. The Association is governed by the General Meeting of its members, the Board of Directors and the Executive Committee. The association governance is specified in thArticles of the Association and its by-laws While the General Meeting gathers the representatives of the ECSDA Members, the Board Directors are appointed in a personal capacity. Main activities The association has 5 permanent ... [...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 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 Contraparte (CRCC) * CME Group * China Securities Depository and Clearing Corporation (CSDC) * Clearing Corporation of India Limited (CCIL) * ComDer Contraparte Central * Depository Trust & Clearing Corporation (DTCC) * Dubai Commodities Clearing Corpo ... [...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 La ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
