BT has announced that Capita Registrars, the UK’s largest share registrar, has signed a three year extension of its SettleNET service.
SettleNET is BT’s end-to-end Internet Protocol (IP) managed network service providing connectivity to CREST, the UK’s real-time settlement system for a wide range of corporate and government securities, money market instruments and funds. CREST is operated by CRESTCo, part of the Euroclear group.
“Capita manages share registers for over half the UK’s listed companies,” Martin Spooner, IT director of Capita Registrars, said. “It is therefore vital that we use the best technology available to make the service we provide as reliable and secure as possible. We have been using SettleNET for nearly ten years now, since the start of CREST. When our contract with BT came up for renewal, we were happy to extend because of their excellent track record for customer service and support.”
In 2004, BT rolled out a service upgrade. It included the deployment of an enhanced security solution together with a complete refresh of customer site equipment.
Around 120 European financial institutions use SettleNET, including custodians and investment banks, the UK and Irish registrar community and a large number of brokers, according to BT.