The Budapest Stock Exchange and The Central Clearing House and Depository (Budapest) Ltd. at their annual general meeting have decided not to segregate their depository and clearing house functions.
According to a management proposal, however, in order to reduce risk associated with the central counterparty function and to comply with the EU-guidelines, KELER’s guarantor activities associated with stock exchange clearing will be outsourced to a limited liability company owned 75 percent minus one share by KELER and 25 percent + 1 share by the BSE.