Microsoft Unveils New STP Product

November 4, 2002 ( - Microsoft Corp. has unveiled its BizTalk Accelerator for Financial Services that the company said is designed to facilitate straight-through processing (STP).

Microsoft’s news media announcement said it worked with financial institutions such and the Italian technology service provider SIA, which is implementing the pan-European automated clearinghouse for the Euro Banking Association (EBA).

The announcement said that the BizTalk Accelerator for Financial Services will provide financial industry-specific messaging capabilities that enable financial institutions to:

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  • manage exceptions
  • rationalize reference data
  • detect and repair faulty messages
  • build new SWIFT- and Financial Information eXchange (FIX)-compatible systems.

The BizTalk Accelerator for Financial Services focuses on payments processing and capital markets trading, settlement, and delivery processes, the announcement said.

Built-in features include more than 90 document specifications, which describe SWIFT and International Securities Association for Institutional Trade Communication (ISITC) messages for payments, foreign exchange, securities trading and reporting, the announcment said.