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 (SDRT) on behalf of HMRC