Late last year, a consortium of 69 firms from across the equity industry subscribed the £12 million of capital needed to develop CREST, the new equity settlement system being developed by a Bank of England project team. CREST is now less than 12 months away from trialling with firms. Software development of the core system is under way, and with last December’s publication of detailed standards for communicating with CREST, software firms and in-house development teams across the industry should now be well advanced in designing and building their own systems to interface with it. This article reviews the history of the project and its current state, and looks towards the transition next year from the current Talisman system to CREST.
Published on
01 March 1995
The CREST project