STSM133010 - CREST: CREST Functionality: completion of transaction details in CREST

CREST calculates and collects Stamp Duty Reserve Tax (SDRT) on the basis of electronic messages, or inputs, made by its participants. When a participant reports a securities transaction to CREST there are a number of mandatory fields that must be completed to enable the transaction to be completed or ‘settled’. These include:

• the date of the agreement to transfer chargeable securities
• the intended date of settlement, i.e. the date the parties have agreed that the transaction should be completed by the movement of the stock in one direction and consideration in the other
• a description of the security
• the quantity of the security to be transferred
• the share price
• the consideration
• the Transaction Status Stamp (TSS) (see STSM133060)
• details of the counterparty
• the dealing capacity of the organisation (for example, agent, principal, broker dealer) (see STSM133040)
• the transaction type code (see STSM133020)