The ongoing elusiveness of STP

EDITOR'S LETTER

It's entirely appropriate, I think, that STP (straight-through processing) is a financial services acronym, mostly because, consistent with other concepts in this industry, it means different things to different people. It seems only reasonable that in an industry where securities are also referred to as financial instruments and products (and to date no-one has been able to successfully explain the difference to me), that STP remains as nebulous and elusive as ever. Yes, I know, securities

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