Factors to be considered Trading members have to choose a general clearing member! Credit risk (counterparty risk) Legal risk Communication Costs
KELER KSZF as a GCM Limited credit risk, strong financial and ownership background Efficient risk management methodology Long and prosperous history in Hungarian financial market Competitive, transparent fees Wide range of services Hungarian legislative framework Hungarian communicative environment
Services for HUPX Members KELER KSZF –Settlement in HUF –Collateral management (HUF, EUR denominated collaterals) –Reporting in Hungarian KELER –Banking services –HUF/EUR conversion –Internet communication via KID –Help Desk 07-22h (in Hungarian)
(1)Sign a Membership Agreement with KELER KSZF (2)Sign an NCM Agreement and Application form with ECC (3)Comply with Business Rules of KELER KSZF (4)Sign a Service Agreement with KELER (includes settlement management, cash and securities accounts management) (5)KID Agreement for Internet banking (6)Provide collateral to KELER KSZF in cash or securities How to become a member of KELER KSZF
Steps to do (1)Give back-office contact details (2)Visit our website for more information: (www.kelerkszf.hu; (3) Visit our Client Office at 1075 Budapest Asbóth street 9-11.