Crest settlement volumes soar

Crest settlement volumes soar

UK book entry depository Crest is reporting a 29% increase in turnover to £63.2 trillion for 2001 against a 26% rise in settlement volumes from the previous year.

The London-based settlement agency says that it settled 73.4 million transactions in 2001, notching up a record daily volume of over 480,000 transactions during the year.

Membership of the Crest system increased to over 40,000 during the year, with the addition of more than 15,000 Personal Members.

Iain Saville, the chief executive of Crest, comments: "2001 saw Crest process record volumes, record values and also deliver a world leading programme of risk reduction and efficiency measures for the benefit of our customers. 2002 will see us continue this work, delivering services, such as settlement netting, which are designed to make our customers' lives simpler and cheaper."

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