Not so long ago, straight-through processing (STP) was a hot topic in the financial services industry. The Global Straight-Through Processing Association (GSTPA), an industry-wide coalition of custodians, broker-dealers and investment managers, had succeeded in putting STP at the top of the agenda as the financial world moved into the 21st century. The pressure to move to a T+1 settlement cycle in the US securities markets, coupled with the explosion in trading volumes, forced the industry to look seriously at straight-through processing as a key element in coping with the workload.
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