Balkan Gas Hub (BGH) is operating a “fully-fledged platform” for natural gas markets, which offers both long-term and short-term standardized products, and has the functionality to conduct special auctions and continuous trading. BGH and KELER CCP Central Counterparty Ltd. (KELER CCP) signed an Agreement as of 24/06/2024 in Sofia for the provision of central counterparty services.

KELER CCP is a subsidiary of KELER Central Depository Ltd. (KELER CSD). KELER CSD is a central securities depository in the process of obtaining its license under the Regulation (EU) No 909/2014 of the European Parliament (CSDR). KELER CSD’s majority shareholder is the Central Bank of Hungary (MNB) in the stake of 53.33%, while KELER CSD owns the 99.85% of KELER CCP’s stake. KELER CCP’s indirect majority owner as the ultimate beneficiary owner is the MNB.

KELER CCP provides central clearing services for the cash and derivatives transactions executed on the Budapest Stock Exchange and on its sub-markets (BÉTa, Xtend, XBond), for cash transactions traded on MTS Hungary, for spot and futures natural gas transactions traded on CEEGEX Central Eastern European Gas Exchange and HUDEX Hungarian Derivatives Energy Exchange, and for the spot and balancing natural gas transactions executed on the Hungarian natural gas balancing market and on the FGSZ Trading Platform.

Besides the provision of central clearing services, as a General Clearing Member of the European Commodity Clearing AG, KELER CCP offers GCM services for the trading members of the European energy community trading with power, natural gas and environmental products on several markets: HUPX, the Hungarian organized power market; HUDEX, the Hungarian energy derivatives exchange; EEX, the Pan-European spot and derivatives energy exchange; SEEPEX, the Serbian organized power market and SEMOpx, the Irish, Northern Irish power trading platform. In line with the ongoing regulatory changes of the relevant EU regulation (EMIR), to comply with the changes KELER CCP will cease providing GCM services within 2-years from the regulation enters into force.

As an innovative service provider with reliable professional and IT background, corresponding international practice, complying with Hungarian, European and international regulations, recommendations and best practices, KELER CCP builds on its more than 25 years of experience, its committed and experienced staff and on its stable shareholder background when serving its clients. Its objective is to become a key player in the region and within the European markets by relying on market and service innovation.

• Standardized products

• Guarantee undertaking

• Elimination of partner risk

• Increased market liquidity

• Novation of trade as a central counterparty functionality

• Anonymous trading and Non-discriminatory participation