Straight Through Processing for Financial Services: The Complete Guide

Overview

As economic and regulatory pressures drive financial institutions to seek efficiency gains by improving the quality of their trading processes and systems, firms are devoting increasing amounts of capital to maintaining their competitive edge. Straight-Through Processing (STP), which automates every step in the trading system, is the most effective way for firms to remain competitive. According to the Securities Industry Association, the US securities industry will spend $8 billion to implement STP initiatives, ...
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Straight Through Processing for Financial Services: The Complete Guide

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Overview

As economic and regulatory pressures drive financial institutions to seek efficiency gains by improving the quality of their trading processes and systems, firms are devoting increasing amounts of capital to maintaining their competitive edge. Straight-Through Processing (STP), which automates every step in the trading system, is the most effective way for firms to remain competitive. According to the Securities Industry Association, the US securities industry will spend $8 billion to implement STP initiatives, and 99% percent of this investment will be made in systems internal to the firm. Straight-Through Processing for Financial Services: The Complete Guide provides the knowledge and tools required by operations managers and systems architects to develop and implement STP processing systems that streamline business processes to maintain competitiveness in the market.

* Learn the tools and techniques for developing software systems and for streamlining business processes
* Keep up to date and well informed in this highly regulated and ever changing market
* Gain the knowledge and experience for a leading consultant in the field

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Editorial Reviews

From the Publisher
“Straight Through Processing for Financial Services is a compendium of useful information that will provide the reader with a clear understanding of the underlying issues and solutions that this important industry initiative faces. Anyone working in the financial services industry would benefit from reading this book.”
—Kevin McKellar, Systems Director, Deriv/SERV, The Depository Trust & Clearing Corporation (DTCC), New York

“Straight Through Processing for Financial Services provides an excellent breakdown of the STP lifecycle processes and connects these to practical technology choices required to implement an effective STP strategy. The book allows the reader to sift through the range of technology choices available to implement STP—industry standards in trading, connectivity across upstream and downstream partners, middleware for service oriented applications, data management technologies, grid computing, and advanced topics such as exception handling and the role of compliance.”
—Jags Ramnarayan, Chief Architect, GemStone Systems, Inc., Beaverton, Oregon

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Product Details

Meet the Author

AYESHA KHANNA has been consulting as a senior business analyst for top tier financial services firms, including JP Morgan, UBS, Banc of America Securities, American International Group (AIG) and Depository of Trust & Clearing Corporation (DTCC) in New York. Her expertise lies in trading, asset and risk management systems for a wide variety of financial products, including equity, interest rate and credit derivatives. She is the author of several articles on the topic of finance & technology, and has been on the Architecture and Risk committees of FpML, an industry standard for messaging financial products. Ayesha is also series editor of “The Complete Technology Guides for Financial Services” series published by Elsevier and author of “Straight Through Processing for Financial Services”. Ayesha has a BA in Economics from Harvard University, and a MS in Operations Research from Columbia University.
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Table of Contents

Preface
Acknowledgements
Chapter 1: The Business Case for STP
Chapter 2: The Trade Lifecycle
Chapter 3: Service-Oriented Architecture
Chapter 4: Industry Standards
Chapter 5: Connectivity
Chapter 6: Data Management
Chapter 7: Reconciliation & Exception Handling
Chapter 8: Regulatory Compliance
Chapter 9: Business Continuity
Chapter 10: Virtualization & Grid Computing
Appendix: The Securities Industry
Index
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