This note describes the changes which were introduced to the Central Gilts Office Service on 27 October 1986. These changes ensured that the Service was ready to provide an integral part of the infrastructure of the gilt-edged market following Big Bang. They principally involved extending the Service from one that was concerned solely with the movement of stock to one that also provided a mechanism for making assured payments for all transfers of stock between members of the Service.
Gilt-edged settlement: Phase 2 of the CGO Service