Products October 10, 2002
Merrill Lynch Dovetails STP Efforts
October 22, 2001 (PLANSPONSOR.com) - Merrill Lynch will offer straight-through processing (STP) to institutional clients via a partnership with software provider Dovetail Systems.
Reported by Camilla Klein
Initially, the technology will enable the communication of trade data to the Transaction Flow Manager (TFM), a STP application patented by the Global STP Association (GSTPA). GSTPA is an industry association composed of members of the global financial community who aim to make STP the standard in the financial markets.
Using open component technology, the new system incorporates the complex business logic behind each trade into the communication of data on that trade, while improving speed and security.
The new partnership is the second this month in the STP arena.
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