BOSTON, MASSACHUSSETTS -- Large US financial broker/dealers will have to spend in excess of $300 million each over the coming years to prepare for straight-through processing (STP), or same-day settlement of trades.
That's the estimate of business consultants Celent in a study of STP released in September. Same-day settlement would contrast with today's practices, where security trading can take up to three days to settle.
The report looks at how market participants, custodians and exchanges
The week on Risk.net, July 7-13, 2018Receive this by email