CrestCo have this month issued a consultation
document endorsed by the London Clearing House (LCH) setting out
its thinking in relation to the introduction of settlement netting
services. Netting services would allow customers of Crest Co to
implement major savings in their infrastructure through a reduction
in the number of settlements.
CrestCo are developing clearing services which will
initially be used by the LCH for their central counterparty service
for equities (LCH Equity Clear) when it goes live in February 2001.
They will start by clearing trades executed on the London Stock
Exchange's SETS platform.
Jointly with this document, LCH has issued a paper
to members of their LCH EquityClear Advisory Group outlining their
thinking on settlement netting.
Further information is available from
http://www.crestco.co.uk or CrestCo's publications line on +44
(0)20 7849 0001.