Migration from Crest to Euroclear

Mar 22, 2021

A Commencement Order was given under the official seal of the Minister for Finance, Paschal Donohoe TD, for the provisions contained in section 62 of Finance Act 2020. The provisions relate to the migration of shares and securities in Irish registered companies from Crest to Euroclear and the settlement of trade in the Belgian central securities depository (CSD) following the withdrawal of the UK from the EU.

S.I No. 108 of 2021 appoints 15 March 2021 as the day on which section 62 of Finance Act 2020 comes into operation.

The Minister for Finance welcomed the successful migration of Irish securities settlement, from the CREST system to Euroclear Bank Belgium, praising all those involved in this multi-year project in a press release. The migration breaks links with London post-Brexit, as Euroclear Bank Belgium becomes the new location of the Irish CSD.