KELER Ltd., founded in 1993, is owned by the Central Bank of Hungary and the Budapest Stock Exchange. Together with KELER CCP Ltd. (jointly: KELER Group) they form the infrastructure that facilitates the seamless operation of the domestic capital and energy markets. As the sole central securities depository in the Hungarian capital market, KELER - licensed under CSDR - provides the infrastructure for the issuance of Hungarian securities and operates the central securities settlement system. In addition to the management of securities accounts for capital market intermediaries this includes the origination of dematerialized securities in line with strict security requirements and the issuance of central security codes (ISIN, CFI, FISN). The notary function and the management of corporate actions is also part of the central securities depository function. Besides the core CSD functions, KELER offers other ancillary services (e.g. share registry management and vault services, LEI code issuance, Trade Reporting). As an investor-CSD, KELER also offers cross-border securities settlement for more than 60 markets. As of 1 January 2013 KELER CCP operates as a clearing house in charge of clearing the turnover of the Budapest Stock Exchange, EuroMTS, the NFKP and CEEGEX; additionally, as a general clearing member, it serves its Clients in the HUPX Hungarian Power Exchange and the major European energy exchanges (EPEX, EEX, CEGH). For its energy market non-clearing members the KELER Group extended its services to the largest power and gas exchanges of Western Europe, such as EPEX SPOT, EEX, PXE and CEGH.