Euroclear calls in Tulchan for Crest job

Euroclear, the company that owns the London Stock Exchange’s trading and settlement system Crest, has appointed Tulchan Communications as German stock exchange Deutsche Boerse (DB) tries to buy the UK stock market.

Euroclear has not officially offered a view on DB’s bid for the LSE but is concerned that it could impose its own trading and settlement system after a successful takeover.

Tulchan consultant David Trenchard is advising Euroclear director of corporate comms Denis Peters.

Trading and settlement involves ensuring that money for stock and bond sales and purchases is delivered after a trade.

DB owns the Frankfurt Stock Exchange and uses a clearing and settlement system known as a ‘vertical silo’, criticised by some for encouraging the use of trading and settlement business to subsidise stock market business.

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