BA-CA Announces New Custody Platform In Hungary

On November 22nd 2004 HVB Hungary's Custody Division successfully transitioned from OMNI IC to Bank Austria Custody System (BA CS). The introduction of the BA CS is the next step in HVB BACA's Group wide "Service Harmonisation Project". This is

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On November 22nd 2004 HVB Hungary’s Custody Division successfully transitioned from OMNI IC to Bank Austria Custody System (BA-CS).

The introduction of the BA-CS is the next step in HVB / BACA’s Group wide “Service Harmonisation Project”. This is strengthening our Group’s approach to standardize custody and settlement services in Central and Eastern Europe – following Austria, Slovenia, Croatia, Slovakia – Hungary is the fifth location implementing this system into our Group Network.

The introduction of the BACS system in Hungary is now bringing the following main new opportunities in our reporting range: confirmations and intraday notifications (such as MT540, MT541, MT542, MT543 and MT548) is released from the BACS system on a real-time basis; on the Corporate Actions Management side, as far as reporting is concerned, HVB Hungary will be more flexible in the future, and also value added Corporate Action related MIS Reports will become available in the near future and certain SWIFT message types are developed further (and made more sophisticated) according to client requirements and international SWIFT standards.

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