STSM131030 - CREST: Introduction: services provided by CREST

The business services CREST provides include:-

  • real time electronic settlement of a range of equity and debt securities, including UK gilts and money market instruments
  • delivery of securities against payment (DVP). See STSM131040.
  • operation of direct links with company registrars enabling registration at the point of settlement for UK stocks
  • straight through processing for UK transaction reporting to regulators (e.g. Financial Conduct Authority (FCA), London Stock Exchange (LSE))
  • fully dematerialised holdings of equity and gilt securities and money market instruments
  • supporting dematerialisation and rematerialisation of securities through its Courier and Sorting Service
  • settling bilateral stock borrowing, lending, collateral management and repo transactions
  • collection of Stamp Duty Reserve Tax on behalf of HMRC (and Stamp Duty on behalf of the Irish Revenue Commissioners).