Central Clearing House and Depository (Budapest) Ltd. (KELER)

Hungary

Asbóth utca 9-11.
1075 Budapest
Hungary
Tel : +361 483 6100
URL: www.keler.hu

Established: 1993

Type: -

Contracts:

As the sole clearing house in Hungary, in the frame of its Central Counterparty (CCP) service, KELER provides settlement guarantee for all the products of the Budapest Stock Exchange (BSE).

KELER provides clearing and settlement services for all types of futures products of BSE.

ACCESS TO FUTURES MARKETS: At present BSE is the only futures market cleared and settled by KELER.

INITIAL MARGIN :

Initial margin is calculated by SPANÒ (Standard Portfolio Analysis of Risk). Margins are subject to change with market moves.

Product	Combined code	Trading months		Price change range (+/-)		Initial margin to maximum price change for derivatives products (HUF/contract)		Spread between trading months				Additional margin for delivery month
						HUF		%		HUF		%		HUF
BUMIX	B57		All trading months		200 HUF		20 000		50%		20 000		0%		0
BUX	B21		All trading months		1 550 HUF		15 500		60%		12 400		0%		0
OTPBUXETF	B63		All trading months		65 HUF		65 000		50%		65 000		30%		19 500
AAA Auto	B67		All trading months		35 HUF		70 000		50%		70 000		50%		35 000
Állami Nyomda	B60		All trading months		1 200 HUF		120 000		50%		120 000		50%		60 000
BIF	B58		All trading months		170 HUF		170 000		50%		170 000		50%		85 000
Danubius	B29		All trading months		800 HUF		80 000		50%		80 000		50%		40 000
Econet	B50		All trading months		25 HUF		250 000		50%		250 000		50%		125 000
Egis	B31		All trading months		1 400 HUF		70 000		50%		70 000		50%		35 000
ELMÜ	B53		All trading months		4 000 HUF		200 000		50%		200 000		50%		100 000
ÉMÁSZ	B48		All trading months		3 400 HUF		340 000		50%		340 000		50%		170 000
EXBUS	B33		All trading months		20 HUF		2 000		50%		2 000		50%		1 000
FHB	B52		All trading months		150 HUF		150 000		50%		150 000		50%		75 000
Fotex	B40		All trading months		90 HUF		90 000		50%		90 000		50%		45 000
Freesoft	B59		All trading months		600 HUF		60 000		50%		60 000		50%		30 000
Forrás OE.	B65		All trading months		270 HUF		135 000		50%		135 000		50%		67 500
Forrás T.	B66		All trading months		400 HUF		200 000		50%		200 000		50%		100 000
Graphisoft Park	B62		All trading months		150 HUF		150 000		50%		150 000		50%		75 000
Humet	B47		All trading months		15 HUF		150 000		50%		150 000		50%		75 000
Linamar	B44		All trading months		400 HUF		400 000		50%		400 000		50%		200 000
MOL	B22		All trading months		1 550 HUF		77 500		50%		77 500		30%		23 250
MTELEKOM	B23		All trading months		65 HUF		65 000		50%		65 000		30%		19 500
OTP	B25		All trading months		530 HUF		106 000		50%		106 000		30%		31 800
ORCO	B64		All trading months		2 000 HUF		50 000		50%		50 000		50%		25 000
Pannonflax	B51		All trading months		200 HUF		200 000		50%		200 000		50%		100 000
Pannonplast	B34		All trading months		150 HUF		375 000		50%		375 000		50%		187 500
Phylaxia	B49		All trading months		5 HUF		200 000		50%		200 000		50%		100 000
Rába	B36		All trading months		200 HUF		200 000		50%		200 000		50%		100 000
Richter	B26		All trading months		3 000 HUF		150 000		50%		150 000		30%		45 000
Synergon	B46		All trading months		180 HUF		180 000		50%		180 000		50%		90 000
TVK	B24		All trading months		670 HUF		67 000		50%		67 000		30%		20 100
Zwack	B38		All trading months		1 900 HUF		190 000		50%		190 000		50%		95 000

Product name	HUF settled product	HUF settled weekly product	HUF settled option product	Trading months	Price change range (+/-)		Initial margin to maximum price change for derivatives products	Spread between trading months	Spread parameters between trading months
Product name	HUF settled product	HUF settled weekly product	HUF settled option product	Trading months	Price change range (+/-)		(HUF/contract)	%	(HUF/spread)
3 BUBOR	X			all trading months	0,68	%	17 000	50%	17 000
1 BUBOR	X			all trading months	0,68	%	5 700	50%	5 700
5 REF.ÁK.	X			all trading months	2	%	20 000	50%	20 000
6 BUBOR	X			all trading months	0,68	%	34 000	50%	34 000
CHF/HUF	X		X	all trading months	5,5	HUF	5 500	80%	2 200
CZK/HUF	X		X	all trading months	0,35	HUF	35 000	70%	21 000
EUR/HUF	X	X	X	all trading months	8,5	HUF	8 500	80%	3 400
GBP/HUF	X	X		all trading months	13	HUF	13 000	70%	7 800
JPY/HUF	X		X	all trading months	7,3	HUF	7 300	70%	4 380
PLN/HUF	X		X	all trading months	2,5	HUF	25 000	70%	15 000
TRY/HUF	X		X	all trading months	6,1	HUF	6 100	70%	3 660
USD/HUF	X	X	X	all trading months	7	HUF	7 000	80%	2 800
AUD/USD	X	X		all trading months	0,025	USD	5 000	50%	5 000
CAD/JPY	X		X	all trading months	3,5	JPY	5 250	50%	5 250
CHF/JPY	X			all trading months	2,8	JPY	4 200	50%	4 200
EUR/CHF	X			all trading months	0,038	CHF	5 700	50%	5 700
EUR/CZK	X	X	X	all trading months	0,8	CZK	7 200	50%	7 200
EUR/GBP	X	X		all trading months	0,02	GBP	7 000	50%	7 000
EUR/HRK	X			all trading months	0,28	HRK	9 800	50%	9 800
EUR/JPY	X	X	X	all trading months	4,6	JPY	6 900	50%	6 900
EUR/NOK	X			all trading months	0,2	NOK	6 000	50%	6 000
EUR/PLN	X	X	X	all trading months	0,11	PLN	7 700	50%	7 700
EUR/RON	X			all trading months	0,15	RON	10 500	50%	10 500
EUR/RUB	X			all trading months	1,8	RUB	12 600	50%	12 600
EUR/SEK	X			all trading months	0,24	SEK	6 000	50%	6 000
EUR/TRY	X		X	all trading months	0,07	TRY	9 800	50%	9 800
EUR/USD	X	X	X	all trading months	0,037	USD	7 400	50%	7 400
GBP/CHF	X	X	X	all trading months	0,058	CHF	8 700	50%	8 700
GBP/JPY	X	X	X	all trading months	6,4	JPY	9 600	50%	9 600