Gert Raeves is Securities Product Development Manager at HelioGraph
Gert Raeves is Securities Product Development Manager at HelioGraph

STP and the integration puzzle

Is STP about speed? And if so, how can this be reconciled with the more conservative need for precision that is crucial in many areas? Gert Raeves provides some answers.

First Published: e-Forex Magazine 9 / Features / January, 2003

Back-office processing in the real world is rarely about speed. Other qualities such as precision and timeliness spring to mind. But timeliness does not equal speed: doing the right things at the right time is very different from doing everything as quickly as possible. And yet browsing through magazines such as e-Forex, it is easy to get the impression that everything would be better if we could ‘go faster’ all the time. All communication must be real time, applications running batch cycles are the root of all evil, settlement cycles must be reduced or eliminated. Increased efficiencies are routinely measured in compression of time (and therefore money). At the same time there is an increased awareness of the need for flexibility and reusability in financial messaging projects, and the key point of convergence is the need to have a full data-dictionary aware infrastructure. Last month’s change-over to ISO15022 as a SWIFT messaging standard has institutionalized the requirement for all...continued

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