SGSS Connects Hungarian CSD with T2S Platform
Keler will connect to the Target2-Securities (T2S) settlement platform during the fourth migration wave in February 2017.
Hungary’s sole central security depository (CSD) has mandated Societe Generale Securities Services (SGSS) to facilitate the connection, while using SGSS’s solutions for liquidity management and collateral transformation.
Hungary, which is not a member of the Eurozone, will be provided with a line of liquidity in euro currency, to settle its transactions for clients that are looking to access the European markets.
Under this collaboration, Keler will refrain from fixed costs due to the running euro currency liquidity management in T2S, while access to the European markets will be on a "pay as you go" basis.
Keler CSD was founded in 1993 by the National Bank of Hungary and the Budapest Stock Exchange.
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