By Felicity Ussher, 1 September 2000 12:50
NEWS A planned electronic pipeline between Germany and the UK is expected to cut the costs of cross-border trading by up to 90 per cent. The direct link which was announced by Crestco and Clearstream, who settle stock transactions in the UK and Germany respectively, is intended to bring the costs of some international settlements down to the level of a domestic trade. It was initially conceived as an efficient platform on which the London Stock Exchange and Deutsche Bourse could merge operations. But both parties made clear that even if the LSE was sold to a third party, the settlement solution would go ahead next summer. Don Cruickshank, chairman of the London Stock Exchange, welcomed the news.
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