LSE Promises Cheaper Settlement Option via Crest
EXCHANGE TECHNOLOGIES
LONDON--The Extranex IP network of the London Stock Exchange (LSE) now serves as an alternative settlement network for UK equity trading via Crest, and the LSE claims the service could save UK participants £15 million per year.
Extranex became an option within the last two weeks, when WestLB went live as its first client. Two other clients are signed up. One of these, Glasgow-based wholesale market maker RA McLean, will be replacing Swift, according to managing director Campbell Sneddon who says
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