Four new network providers have stepped forward to compete with Swift and Syntegra in providing communications links to the UK's Crest book entry settlement system.
The new contenders are Brokerage Systems, Energis, London Stock Exchange and Radianz. Each organisation is currently defining its network offering and awaiting technical interface specifications from CrestCo.
To receive accreditation each company will be expected to go through a series of checkpoints which follow the development and implementation lifecycle. CrestCo says it does not expect to complete network acceptance testing for any supplier until at least December 2001.
The decision to break-up the Swift/Syntegra duopoly in the provision of network services to Crest members was made late last year. It coincides with a migration to generic browser-based interface standards at Crest, enabling institutions to plug in a different network to their proprietary sockets and split traffic between suppliers.