Please be advised that KELER (Hungarian CSD) is due to go-live with a new settlement system effective trade date 6 December 2021.

This will impact all settlement instructions currently sent to the market where the 4 digit KELR code is populated in the 95R: field will be replaced by the settlement agents 11 character BIC code in field 95P.

 EuroCCP’s current SSI format:     95R:/KELR/0390

EuroCCP’s new SSI format:           95P::BUYR/DEUTHU2BXXX

 EuroCCP will apply this change on trade date 6 December 2021 and updated the Regulation Settlement with the new details. All existing SSI details, as stated in the Hungarian Settlement Agent Power of Attorney (PoA), will be updated with the 11-digit BIC-codes as published by KELER.

 Should you have any questions relating to these changes please contact our relationship management team.