SEC's Standardizing Drive

ADMINISTRATION & MANAGEMENT

The Securities and Exchange Commission (SEC) is now accepting comments on an STP-related concept release that also proposes standardizing reference data.

The SEC is suggesting that standardization may help address a deficiency described in a 2002 white paper by the Institutional Transaction Processing Committee (ITPC) of the Securities Industry Association (SIA). In it, the ITPC said that broker/dealers and their customers usually have proprietary systems that lack both automation and common