SEBI - DNPD/Cir- 22 /04 - Dated:- 1-4-2004 - PRATIP KAR EXECUTIVE DIRECTOR DNPD/Cir- 22 /04 April 01, 2004 To All Stock Exchanges, Depositories and Custodians. Dear Sir, Mandatory use of STP system for all institutional trades executed on the stock exchanges. Straight Through Processing (STP) is generally understood to be a mechanism that automates the end to end processing of transactions of financial instruments. It involves use of a system to process or control all elements of the work flow of a financial transaction, what are commonly known as the Front, Middle, Back office and General Ledger. In other words, STP allows electronic capturing and processing of transactions in one pass from the point of order origination to final settlement. STP thus streamlines the process of trade execution and settlement and avoids manual entry and re-entry of the details of the same trade by different market intermediaries and participants. Usage of STP enables orders to be processed, confirmed,

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =