THE company which will supply the CREST equity settlement system to the Irish and British markets, has co-opted Mr Tom. Healy to its board to represent the Irish market. Mr Healy is chief executive of the Irish Stock Exchange.

The new system will replace Talisman, with 52 Irish companies switching over on October 21st, and the remaining Irish quoted firms scheduled to transfer next January.

The Irish Stock Exchange said last night it would sharply reduce the amount of paper involved in the settlement process, and provide a faster, more secure and more efficient service.