Dear Clients,
We have already informed our Energy market Non-clearing member clients about changes affecting the GCM business line of KELER CCP.
As outlined in the communication, BÉTx Pénzügyi Zrt. (BÉTx), a wholly owned subsidiary of Budapest Stock Exchange Plc (BSE), acting as an investment firm and an ECC-approved clearing member, plans to assume the client portfolio and contractual obligations of KELER KSZF through legal succession with the planned effective date of 16 November 2026. The entire operational process will continue to be managed by KELER CCP under an outsourcing agreement to be concluded between BÉTx and KELER CCP, under unchanged conditions from commercial, technical and service perspectives, in line with the current operating model.
Following the registration of BÉTx by the Court of Registration on 10 January 2026, the supervisory license required to carry out investment service activities was granted to BÉTx on 2 April 2026, by the Central Bank of Hungary.
Several workstreams are currently progressing in parallel to ensure the successful implementation of the transition project. All key milestones and deliverables remain on schedule and are progressing in line with the planned timeline.
The next major milestone will be the publication of BÉTx's General Business Rules and Fee Schedule, together with the Client Consent Letter. These documents are expected to be made available to clients no later than mid-July 2026.
With best regards,
KELER CCP Ltd.