The technology test
Talk of using straight-through processing with structured products usually elicits gasps of horror and scepticism in equal measure. But although squeezing such a complex product into a process management system has so far proved elusive, progress is being made towards a solution. Matt Cameron reports
Straight-through processing (STP) is a simple enough concept - the ability to process a transaction from beginning to end without any manual handling, enrichment, or enhancement throughout the trade's life cycle. The benefit to market practitioners is obvious, with an effective STP system able to capture a trade, manage its operational risk and significantly reduce transaction costs.
In recent
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