LSE to trade German equities

CREST, the electronic settlement system for the London Stock Exchange (LSE), and Deutsche Borse Clearing, its German counterpart, are set to announce plans this week to allow the UK exchange to trade German equities. An LSE spokesman said: "We will be offering German securities from the end of September. The aim is to make trading BMW as easy to settle as Glaxo Wellcome."

Crest has appointed Dresdner Bank, Germany's second-biggest bank, to act as custodian, allowing trades to be settled this year for a cost of 60p per transaction.