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Six SS wins mandate from Hungary CSD
16 December 2013
Six Securities Services takes the mandate from Clearstream
Six Securities Services
Six Securities Services has won a mandate to provide
international settlement and custody to Keler, Hungary's
central securities depository (CSD).
The post-trade provider has taken the mandate from
Six CEO Thomas Zeeb marked the event as an "important step" in
establishing SIX as one of the three main European
providers of cross-border services at an infrastructure level
as the implementation date of Target2-Securities draws
The partnership will enable Keler to optimise its international
settlement capabilities, said Six.
György Dudas, CEO of Keler, added, "The key objective of
this move is to enhance our cross-border settlement
efficiencies and asset servicing capabilities on a truly global
scale. This will allow Keler to succeed in an increasingly
competitive post-trade environment."
Keler is the sole CSD for Hungary and is owned by the Central
Bank of Hungary and the Budapest Stock Exchange.