As with all acronyms, STP (straight through processing) is widely used and more often misinterpreted, meaning many things to many people. With the following, we hope to outline a definition of STP and to dispel the myth that there is one single approach to its realization.
In order to define STP, it makes sense to outline the drivers of its conception. Quite simply, these are reduced settlement periods; the minimization of counterparty default risk; and the globalization of financial markets
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