Axion4gstp Readies TFM for Tests Early Next Year

REPORT FROM SIBOS

SAN FRANCISCO--Northern Trust, Morgan Stanley Dean Witter and Nicholas-Applegate Capital Management are three of the firms piloting the GSTP’s Transaction Flow Monitor (TFM). At a Sibos session, representativesof GSTPA, GSTP and axion4gstp--which is building and operating the industry utility--as well as the three firms revealed a more detailed timeline.

A pilot set for next January will test connectivity to the utility. In April, official pilot tests will start, to go into full production in

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