Quick Guide: Trade Settlements at STP
As an end-to-end investment operation and technology service partner, STP’s trade settlements service can help you gain efficiencies with your operational tasks. Wondering what exactly we do? Here’s a straightforward breakdown of our trade settlement process in 8 simple steps.
- STP will obtain a CTM BIC & Alert acronym under our licensing and complete the onboarding process with DTCC on behalf of the client.
- STP will work directly with your OMS provider to develop a trade file.
- STP will set up, maintain, and send out ad-hoc trade files/trade blotters to requested counterparties via email, sftp, or fax. File format must be in pdf, csv, or xls and Lightspeed TDMS must be able to recreate the file.
- STP will coordinate all migration changes (CTM & Alert) with your brokers.
- STP will communicate with all applicable custodians on trade instruction revisions (SWIFT, trade file ftp, etc).
- STP will liaise with the broker to rectify any issues related to trade matching exceptions during the allocation process.
- STP will manage the entire trade lifecycle, from allocation to trade instruction, ensuring settlement. STP will connect internally with the reconciliation team to identify custodian trade breaks or failing trades. STP will also work directly with the custodians and brokers to rectify breaks and ensure settlement.
- STP will provide global coverage from 4:30 AM EST – 7:30 PM EST, including holidays.
Trade Settlements is a standalone service at STP or can be bundled with our investment operations outsourcing core option. Want to learn more? Our experts are ready to answer any further questions you may have on STP or our Trade Settlements Offering.
