CREST allows both institutions and individuals to be members, through two types of account: direct member and sponsored member.
Direct members are connected to the CREST system through their own IT infrastructure. These direct members are major financial institutions such as stock brokers, banks, investment groups and custodians.
Sponsored members access CREST via a direct member (their sponsor), usually a stock broker or bank. They get the same rights and responsibilities as a direct member, without having to invest in the hardware and software needed to connect to CREST’s systems.
Any individual resident in the European Economic Area (EEA), Jersey, Guernsey or the Isle of Man can become a sponsored member of CREST. They will need to open an account with a stock broker that will sponsor its clients for CREST membership and pay the relevant CREST membership fees.