London, April 25, 2005 - BT, one of the world’s leading suppliers of financial systems, today announced that Capita Registrars, the UK’s largest share registrar, has signed a three year agreement for the ongoing use of the SettleNET service.

SettleNET is BT’s secure 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.

Martin Spooner, IT director, Capita Registrars, said: "Capita manages share registers for over half the UK’s listed companies. 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 continued its investment in SettleNET by rolling out a major service upgrade. It included the deployment of an enhanced security solution together with a complete refresh of customer site equipment.

Neil Morris, SettleNET general manager, financial services, BT, said: "The decision by Capita Registrars to renew its contract with BT demonstrates the ongoing strength of SettleNET in this competitive market. The recent upgrade reinforces our commitment to ensuring that BT’s customers benefit from technology improvements, while being able to rely on the levels of security, resilience and customer service that are synonymous with SettleNET."

Around 120 European financial institutions use SettleNET, including custodians and investment banks, the UK and Irish registrar community and a large number of brokers.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development