Trading Solutions

Straight Through Processing

The TRADESOFT® systems allow you and your customers to link back office and position keeping systems to the TRADESOFT® dealing system in order to capture trade data electronically. This feature dramatically streamlines the checkout, deal confirmation and reconciliation process. An optional checkout mechanism enables you to approve all trades before transmitting the trade information.

The key benefits of Straight Through Processing (STP) are:

• Paperless, automated deal entry improves efficiency and reduces the operational risks of manually entering deals.
• Allows for improved deal processing and position keeping capability.
• Reduced likelihood of mistakes from deal entry.
• Single point of entry promotes cross systems reconciliation.

Tradesoft has rolled-out an integrated STP package in a number of different markets for Euro Brokers; these include Deposits, Forward Rate Agreements and Interest Rate Swaps. Tradesoft can offer customers several mechanisms for delivery of trade data, allowing users to connect to our socket interface and exchange XML messages; this data is available via either leased lines or Virtual Private Networks. In order to offer a wide range of options, trade detail may be received via fax, HTML browser, or digitally signed and encrypted e-mail.

Tradesoft STP works with FpML (Financial products Markup Language); this standard is intended to automate the flow of information across the entire derivatives partner and client network, independent of the underlying software or hardware infrastructure supporting the activities related to these transactions. The advantage of FpML is that it facilitates the direct communication of derivative trade descriptions and environment information between two organizations. Going forward, it will allow for the electronic integration of a range of services, from electronic trading and confirmations to portfolio specification for risk analysis.