Technology

STP

What is STP?

Straight Through Processing, or STP, as defined by the Securities Industry Association (SIA):

STP refers to the seamless integration of systems and processes to automate the trade process from end-to-end--trade execution, confirmation and settlement--without the need for manual intervention or the re-keying of data. Specifically, the STP scope for the industry is from Notice of Execution (NOE) through to settlement for institutional trading. For retail and corporate actions, the STP scope is broader. For individual firms, STP is also defined more broadly, and encompasses the streamlining of the operational infrastructure--front-, middle-, and back-office--of all industry participants (broker/dealers, investment managers, custodians, and clearance/settlement utilities).

DealRunner™ Facilitates STP

The BookRunner's Pofessional Suite of products set the stage for a truly paperless workflow. From hypothetical scenario analysis to transaction settlement and allocation, BookRunner's comprehensive solution for end-to-end electronic trade processing is incorporated into every facet of the platform's design. DealRunner™ links directly to vital internal and external systems for real-time efficient paperless communication. Key STP features include:

Internal Communication

DealRunner™ facilitates real-time paperless internal communication among your traders, portfolio managers, compliance officers, and back-office personnel. Fully-integrated pricing, position and trade blotter screens offer customized access by user and allow for real-time transaction status reporting. Intuitive hierarchical data presentation layer allow users to easily drill-down to view the underlying data at multiple aggregation levels.

External Communication

DealRunner™ facilitates seamless external communication to all related systems and processes required to achieve STP. This includes links to various market data sources, analytics providers, ECNs, downstream settlement fascilities, pool allocation systems, and more... Seamlessly integrated via electronic interfaces, BookRunner screens display data in real-time as trade status, position and pricing information are constantly updated from external sources.

Electronic Data Transfer

In an effort to facilitate Straight Through Processing (STP), DealRunner™ provides standard interfaces for importing and exporting data. In addition to the out-of-the-box support, BookRunner offers a variety of integration tools for developers, including C++, C#, COM, exposed Web Services, and direct database transfer methodologies.