In addition to the clearing house activity, the CMA regulates in detail the central
clearing house activities, which involve the maintenance of the central securities
database, the issuance of the ISIN code, the production, registration and cancellation
of the dematerialised security, the issuance of a certificate for the purposes
of offering a security which was issued in Hungary abroad and the issuance of
a certificate for the purposes of offering a security which was issued abroad
in Hungary. The permission necessary for the central depository activity will
be given by the Supervisory Authority for the whole range of the aforementioned
activities for companies limited by shares with a registered office in the territory
in the Republic of Hungary and a registered capital of HUF 1 billion, or the clearing
house which is not performing central counterparty activities, if it is in compliance
with the relevant provisions of the CMA and has liability insurance for at least
HUF 100 million per claim.