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).