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Part IV UK Payment and Settlement, 13 UK Settlement

Madeleine Yates

From: Financial Markets and Exchanges Law (3rd Edition)

Edited By: Michael Blair, George Walker, Stuart Willey

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 25 September 2023

Securities — Settlement — Financial regulation

This chapter provides an overview of certain aspects of major settlement systems and clearing systems in the UK. It focuses on CREST, a UK electronic settlement system that is operated by Euroclear UK & Ireland Limited (EUI) in London. It also recounts how CREST became part of the Euroclear group in September 2002, when it merged with Euroclear Bank SA/NV and became its wholly owned subsidiary. This chapter draws attention to LCH Limited, a private limited company incorporated under the laws of England and Wales and was formerly called the London Clearing House Limited. It describes how LCH provides CCP clearing services in respect of trades on a wide range of exchanges, trading platforms, and OTC markets.

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