31
Exchange partnerships
In the role of General Clearing Member:
• European Energy Exchange (EEX)
• European Power Exchange (EPEX)
• Powernext
• Hungarian Power Exchange (HUPX)
• Power Exchange Central Europe (PXE)
• SEE Power Exchange (SEEPEX)
• NOREXECO (The Pulp & Paper Exchange)
Memberships
EACH
AFM
Regulatory bodies
Magyar Nemzeti Bank (Central Bank of Hungary) –
General market
information
In line with European standards, Hungary has a low inflation rate which is associated with a low
base rate. With regards to the inflation rate, the medium term target inflation rate is 3% however;
the current inflation rate is 1.1 % (Central Bank of Hungary, November 2016). The base rate was
cut three times in 2016, and in May fell to 0.90 %. Accordingly, the benchmark yields on Hungarian
government bonds are decreasing constantly and on short-term bonds it is currently below 1 %.
The GDP growth in Hungary reflects a positive result as it was around 2 % in 2016 however growth-
rate is decreasing compared to previous years; while it is expected to largely grow in 2017.
The national currency against the Euro is currently 308.89 and has been changing within a range
of 304 and 318 throughout 2016.
The stock index (BUX) of the Budapest Stock Exchange performed very well showing a significant
increase of 34 % in 2016, and due to the positive opinions of the credit rating agencies this trend
is expected to continue.
KELER CCP Ltd.
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