CrestCo, the UK settlement agency, is to merge with Euroclear, the international central securities depository (ICSD), according to a source close to CrestCo's board.

The source said a formal announcement will be made in the next month.

Geraldine Lambe

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The agreement settles claims that the lender facilitated $800 million of payments related to the looting of the Malaysian sovereign-wealth fund.

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CrestCo to merge with Euroclear

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