UK central bank makes recommendations to Euroclear UK and Ireland following CREST outage last year which, it said, ‘caused notable market disruption’.
Tag: Bank of England
Euroclear's CREST system has suffered two outages, causing intermittent delays to settlement and impacting the Bank of England's gilt buy-back operation.
The report from the UK central ban found that financial firms are spending upwards of $20 billion a year on post-trade processing systems alone.
The agreement between ESMA and the Bank of England eases concerns of significant disruption to the Irish securities market.