In the 30th anniversary of CREST’s inception, Peter Taylor-Whiffen looks at how it revolutionised the Stock Exchange and the equities market
To those who don’t remember the days of T+10, when settlement occurred ten days after a transaction date, it must seem like a system from another world. And there will be millions who don’t – it is now 30 years since the introduction of CREST, the settlement system created by the London Stock Exchange (the Exchange), Bank of England (BoE) and the Treasury, that automated and revolutionised trading.
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