Hungary

  • Hungary

1 Country overview

MTS facilitates a dedicated market for the electronic trading of Hungarian government debt securities.

2 Instruments

The securities available for trading are Hungarian Forint-denominated fixed income products that respect the following criteria:

a. Nominal fixed coupon bonds;

b. Publicly issued floating rate government bonds,

c. Publicly issued discount treasury bills;

d. Issued by the Hungarian government through the AKK

And:

I. With a remaining term to maturity at the time of the issuance of more than 300 days at the time of selection

II. With remaining term to maturity on a given settlement day of the relevant trading day is more than 90 days

III. any on-the-run government bonds or treasury bills at the time of the MTS Hungary system launch

For a full list of available instruments, click here.

2.1 Minimum lots

Quotes and ‘Fill and Kill’ orders may be submitted for the following amounts:

Hungarian T bills and Hungarian Government bonds: HUF 100 Million

Hungarian Floating Rate bonds, Hungarian Student Loan bonds and MFB Hungarian Development Bank: HUF 10 Million

3 Participants

For the list of participants please click here.

3.1 Participant Requirements

All Primary Dealers in Hungarian government debt participate in MTS Hungary.

The Committee sets the rules for the admission of new participants. Primary Dealers can join MTS Hungary only as market makers.

4 Market Hours

Market Hours (CET)

Pre-Market: 8:15 – 8:45

Offer Market: 8:45 – 9:00

Trading hours: 9:00 – 16:45

Market Closed: 16:45

5 Settlement

Trades on Hungarian Florin denominated Government bonds settle at KELER. MTS sends Swift settlement instructions on behalf of both participants to KELER. MTS participants must hold a securities account at KELER directly or indirectly through a custodian.

KELER CCP is available as a Central Counterparty and its use is mandatory on MTS Hungary.

The settlement cycle is T+2. The settlement calendar follows the local business calendar, skipping -settlement date on Hungarian public holidays.


6 Market Data

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Best page

6.1 Password protected

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Participant statistics