2001: STP and T+1: 2005 Is Better Late Than Never
OPERATIONS AND STP
NEW YORK--This year it was impossible to go anywhere without hearing those three letters-"S-T-P"-and their sidekick, "T+1," the requirement that firms settle trades no more than one day after execution.
Seemingly every vendor offered "an STP solution." And everyone had a different definition of what STP was, though it was most commonly defined as a "paperless" trade lifecycle with no manual re-keying, though "STP" was the name given to numerous other concepts.
Throughout the entire year, firms
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