View the article online at http://citywire.co.uk/wealth-manager/article/a657984
Aberdeen joins M&G and 19 others in revolutionary Crest deal
by Emma Dunkley on Feb 11, 2013 at 11:09
‘Crest currently does the same for equities and bonds, bringing clarity to the broker community on what they own,’ he said.
Rudd added the system makes transfers or ‘re-registration’ fully electronic, using the same equity and bond infrastructure, but adapting it for funds.
'Transferring' is the re-registration of a holding between one platform and another, because a retail client is moving between systems, switching from one broker to another.
Rudd emphasised this electronic settlement does not affect trading.
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