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Euroclear says UK settlement system still hit by intermittent delays

Mon, 14th Sep 2020 12:54

LONDON, Sept 14 (Reuters) - Euroclear said on Monday its
CREST system for settling UK and Irish stock trades was still
suffering from "intermittent delays".

CREST went down on Friday and early on Monday before
resuming service, forcing the Bank of England to delay a gilt
buy-back.

"While we can confirm that CREST services have resumed, we
have been responding to technical issues affecting our CREST
system throughout the morning, which have been causing
intermittent delays to settlement," Euroclear said in a
statement.

"We are closely monitoring the situation and taking actions
to resolve any issues with the utmost priority. These delays
appear to relate to steps undertaken as part of the Non-Standard
CREST Closure (NSCC) process invoked on Friday, September 11."
(Reporting by Huw Jones; Editing by Jon Boyle)

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