Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 2

Securities Systems must allow the option of network access on an interactive basis. They should cope with peak capacity without any service degradation, and have sufficient standby capabilities to recover operations in a reasonably short period within each processing day.

1.	How often, over the last twelve months, has the depository been required to:
	Change its published settlement timetable?	In terms of Exchange settlements (both spot - multilateral netting supported by guarantee funds, and derivatives - where KELER acts as CCP) there were no change in published settlement timetable. During the above settlement processes KELER's system is independent from other components of the capital market infrastructure (such as cash clearing). In our RTGS processing - see under #2.
	Extend the time of opening for settlement input by users?	In the RTGS environment KELER extended the deadline for settlement inputs twice in the last twelve months. The extensions were due to third-party service degradation on the market.
	Delay start of day processing?	Never happened.
2.	Does the depository operate real time or multiple batch processing for settlement?	We have an RTGS environment from 08:00 till 16:00. Beside the real time period we also run batch processing for several types of transactions at 16:, 17:00 and 18:00.
3.	Does the depository allow interactive communication (on line real time) with its users, enabling settlement input and amendment?	Yes. Our clients have a real time electronic communication system to KELER that allows interactive communication and provides continuous status intimation to the users. The amendment of instructions is not supported by KELER, a cancellation and a new instruction input is needed from the client when amending the details of a transaction.
4.	Has the depository ever failed to recover an outage within the day or failed to start processing runs for a whole day; and, if so, when did that failure arise and what steps have been taken to prevent a similar event in the future?	No.