KELER Group

{{short description|Hungarian financial market infrastructure}} {{Infobox company | name = KELER Group | logo = | native_name = Központi ELszámolóház és ÉRtéktár | native_name_lang = hu | type = State-owned enterprise | industry = Financial services | founded = {{Start date and age |1993}} | founder = | hq_location_city = Budapest | hq_location_country = Hungary | area_served = Hungary | key_people = | products = Central securities depository, and central counterparty clearing house | owner = Hungarian National Bank (MNB) | num_employees = | num_employees_year = | website = {{URL|https://www.keler.hu/}} }}

The '''KELER Group''' (for {{lang|hu|Központi ELszámolóház és ÉRtéktár}}, {{lit|Central Clearing House and Depository}}) is a Hungarian financial market infrastructure provider 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).<ref name=MNB>{{cite web |website=Hungarian National Bank |url=https://www.mnb.hu/en/payments/settlement-systems/keler-group |access-date={{date|2025-2-11}} |title=KELER Group}}</ref>

KELER provides the central infrastructure of Hungarian securities markets. For example, all trades concluded on the Budapest Stock Exchange (BSE) must by law be settled at KELER.<ref>{{cite web |website=Clearstream |date={{date|2023-6-13}} |url=https://www.clearstream.com/clearstream-en/res-library/market-coverage/market-infrastructure-hungary-1281070 |title=Market infrastructure - Hungary}}</ref>

==Overview== KELER CSD is owned by the MNB (53.33 percent) and the 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,<ref>{{cite web|url=http://www.portfolio.hu/en/equity/hungary_central_bank_obtains_majority_ownership_in_budapest_stock_exchange.30523.html|title=Hungary c.bank buys majority stake in Budapest Stock Exchange|publisher=portfolio.hu|date=2015-11-25 |access-date=2015-11-25}}</ref> in which it held an equity stake of 81.35 percent as of {{date|2024-8-29}}.<ref>{{cite web |website=Budapest Stock Exchange |access-date={{date|2025-2-11}} |url=https://bse.hu/investor-relations/shareholders |title=Shareholders}}</ref>

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.<ref name=MNB/>

==References== {{reflist}}

Category:Central securities depositories of Europe Category:Clearing houses