Headline: STP runs into the Red Queen effect Source: Euromoney Date: October 2001 Author: Jonathan Brown When markets were at dizzy heights and volumes were burgeoning the rapid implementation of straight-through processing looked to be a necessity. Now, though, developers and potential customers are taking a more sober view, not least because some markets don’t yet seem ready for T+1 settlement. With the election of Axion4gstp by the GSTPA and the establishment of Omgeo – a joint venture between the Depository Trust & Clearing Corporation (DTCC) and Thomson Financial ESG – to develop the global STP solution for worldwide markets including equities, fixed income, foreign exchange and future options markets, it seemed that it was all systems go for the move to fully automated trading and settlement. |