Collateral valuation and verification of cover for MAVIR
In 2003 Magyar Villamosenergia-ipari Rendszerirányító Zrt. (MAVIR) selected KELER to act as the custodian in charge of the financial collaterals of the so-called balancing energy market that is meant to support the safe operation of the liberalized electric power market.
This service includes account management for MAVIR and its members, an association responsible for controlling the Hungarian energy market and risk management, collateral verification and evaluation.
The agreement has been a significant step towards the establishment of a regulated energy market (exchange), hence towards the establishment of settlement activities.