Information on the publication of KELER CCP’s new Condition lists – Acceptance of Bank Guarantee – Effective from: 6 August 2018 / Cancellation of Acceptance of Bank Guarantee from 31 December 2018

Dear Clients,

According to 648/2012 EU regulation (EMIR) KELER CCP, as a licensed central counterparty, can only accept bank guarantees that comply with the 153/2013 EU technical standard Annex I. Article 2.

KELER CCP received the opinion of ESMA and MNB related to the mentioned Article, and based on that KELER CCP decided that from 6 August 2018 it does not accept any bank guarantee on its cleared markets.

The currently deposited valid bank guarantees are considered as collateral assets until 31 December 2018, but from 1 January 2019 these bank guarantees will not be accepted as collateral.

We would like to kindly ask our Clients to check their bank guarantees expiration and in case of expiration take the necessary steps in order to replace the bank guarantee with acceptable collateral assets.

Additionally please also consider that after the date of 31 December 2018 the value of the bank guarantees will be considered as zero.

The related condition list is available by clicking on the attachment below, on our website at documents/Condition lists/Conditions of Acceptance of Bank Guarantee and on KID in the folder of KELER CCP KID Info/Regulatory Documents.