A BATTLE IS under way throughout the financial services industry to remove the human touch from trade processing. After at least 20 years chasing this hallowed goal, it seemed the industry was close when the Securities Industry Association (SIA) stipulated that straight-through processing had to be sufficiently perfected to ensure T+1 – trade plus settlement on the following day – by 2005.
But that has proved to be an unrealizable target, and the race to T+1 has been indefinitely postponed.
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