OPEN Software Consulting Ltd. is a leading IT company that provides state-of-the-art software solutions to key players in the banking and securities sector. Established in 1991 by a team of experts with a wealth of experience in the Hungarian banking and securities market, the firm has since played a critical role in Hungary’s major securities-related IT projects of the past decade.

As a part of its IT operations, OPEN is engaged in software consultancy and software development, business consultancy, and systems integration. With regard to the provision of IT solutions to participants in Hungary’s equity market, the company’s staff were the first to develop (in 1986) a securities IT systems for the State Development Institute, and later for Budapest Bank.

OPEN’s securities software solutions have closely tracked and complemented the developments of the Central Clearing House and Depository (KELER Ltd., in Budapest, Hungary) (development of the Securities Settlement, Central Depository and Vault Operations, Real Time Gross Settlement (RTGS), Dematerialised Securities Account Management, Banking, and Share Registry Management systems), the IT developments of the Hungarian Financial Supervisory Authority (HFSA) and its various legal predecessors (development of a securities IT system for capital market supervision and market monitoring), and the IT developments of the Budapest Stock Exchange (selection and launch of a CMSS trading system, development of a settlement and central depository system).

Through these and other projects, OPEN has earned itself an enviable reputation as a top-ranking IT specialist in the domestic securities and banking market.

OPEN’s most notable IT project of the last 20 years has been the development for KELER Ltd. of the Settlement, Central Depository and Vault, Securities Account Management, RTGS, Dematerialised Securities Account Management and Banking systems (HUF and FCY Account Management), as well as the Share Registry Management system. The development of these systems is still ongoing, with several upgrades being released each year.

Since the establishment of the State Securities Supervisory Authority, OPEN has been a primary software developer for the authority, commissioned to develop and enhance its securities IT systems, and has performed further systems development projects at the authority’s successor institutions ever since. The result of this development work is the current KIR-TNHE (capital market supervision and market monitoring) system operating at the HFSA, which manages standing data of companies and securities, as well as securities turnover and transactions (Budapest Stock Exchange, Budapest Commodities Exchange, and OTC), and also performs market monitoring in relation to these transactions.

OPEN’s main objective has always been to develop and implement the most efficient and profitable IT solutions for its clients. Accordingly, when developing IT systems, the company works closely with hardware and software suppliers to ensure its clients benefit from technological solutions that best complement their business requirements.