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Straight-through Processing
Straight-through processing (STP) is a method used by financial companies to speed up financial transactions by processing without manual intervention (straight-through). It was developed for equities trading in the early 1990s in London for automated processing in the equity markets. Payments Straight-through processing exists in numerous areas of financial services, such as payments processing. Payments may be non-STP due to various reasons such as missing information, information which that is not in a machine "understandable" form (such as name and address rather than a code), or human-readable instructions "Please credit urgently") or simply falls outside of rules for which the bank allows automatic processing (for example, payments of large value or in exotic currencies). Traditionally, making payments involves many departments in a bank. Both initiating a payment to be sent and processing a received payment may take days. In the past, payments were initiated through numer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Transaction
A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. A financial transaction always involves one or more financial asset, most commonly money or another valuable item such as gold or silver. There are many types of financial transactions. The most common type, purchases, occur when a good, service, or other commodity is sold to a consumer in exchange for money. Most purchases are made with cash payments, including physical currency, debit cards, or cheques. The other main form of payment is credit, which gives immediate access to funds in exchange for repayment at a later date. History There is no evidence to support the theory that ancient civilizations worked on systems of barter. Instead, most historians believe that ancient cultures worked on principles of gift economy and debt. In a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Management
Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds, or REITs. The term asset management is often used to refer to the management of investment funds, while the more generic term fund management may refer to all forms of institutional investment, as well as investment management for private investors. Investment managers who specialize in ''advisory'' or ''discretionary'' management on behalf of (normally wealthy) private investors may often refer to their services as money management or portfolio management within the context of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Straight-Through Quality
Straight-Through Quality (STQ) are approaches and outputs of test automation that have quality and deliver business benefit. STQ takes its name from the business concept of straight-through processing (STP). Also acting as a tool and enabler for STP. Traditional techniques for testing and delivery have often required a great deal of manual support and intervention. These approaches are subject to human error, cost of delay and lack of reuse. These also have the negative side-effect of being unable to deliver 'fail-fast' approaches, which have proven popular with Agile practitioners. Previous traditional approaches have been typically expensive where whole silo'ed departments are created within commercial companies to deliver Quality and Deployment alone. Thus STQ as an approach hopes to resolve this problem. Examples Tangible examples of STQ approaches in the software industry are present and often known as continuous integration (CI) and continuous delivery (CD). These combin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Trading
In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products can be traded by the trading platform, over a communication network with a financial intermediary or directly between the participants or members of the trading platform. This includes products such as stocks, bonds, currencies, commodities, derivatives and others, with a financial intermediary, such as brokers, market makers, Investment banks or stock exchanges. Such platforms allow electronic trading to be carried out by users from any location and are in contrast to traditional floor trading using open outcry and telephone based trading. Sometimes the term trading platform is also used in reference to the trading software alone. Electronic trading platforms typically stream live market prices on which users can trade and may prov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Interoperability
Business process interoperability (BPI) is a property referring to the ability of diverse business processes to work together, to so called "inter-operate". It is a state that exists when a business process can meet a specific objective automatically utilizing essential human labor only. Typically, BPI is present when a process conforms to standards that enable it to achieve its objective regardless of ownership, location, make, version or design of the computer systems used. Overview The main attraction of BPI is that a business process can start and finish at any point worldwide regardless of the types of hardware and software required to automate it. Because of its capacity to offload human "mind" labor, BPI is considered by many as the final stage in the evolution of business computing. BPI's twin criteria of ''specific objective'' and ''essential human labor'' are both subjective. The objectives of BPI vary, but tend to fall into the following categories: * Enable end-to-en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer finance, consumer-finance companies, brokerage firm, stock brokerages, investment management, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act, GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the Takeover, acquisit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Custodian Bank
A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It safeguards assets of asset managers, insurance companies, hedge funds, and is not engaged in "traditional" commercial or consumer/retail banking like lending. The role of a custodian in such a case would be to: * hold in safekeeping assets/securities such as stocks, bonds, commodities such as precious metals and currency (cash), domestic and foreign * arrange settlement of any purchases and sales and deliveries in/out of such securities and currency * collect information on and income from such assets (dividends in the case of stocks/equities and coupons (interest payments) in the case of bonds) and administer related tax withholding documents and foreign tax reclamation * administer voluntary and involuntary corporate actions on securities held such as stock dividends, stock splits, business combinations ( mergers), tender offers, bond calls, etc. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Broker-dealer
In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and derivatives trading process. Although many broker-dealers are "independent" firms solely involved in broker-dealer services, many others are business units or subsidiaries of commercial banks, investment banks or investment companies. When executing trade orders on behalf of a customer, the institution is said to be acting as a broker. When executing trades for its own account, the institution is said to be acting as a dealer. Securities bought from clients or other firms in the capacity of dealer may be sold to clients or other firms acting again in the capacity of dealer, or they may become a part of the firm's holdings. In addition to execution of securities transactions, broker-dealers are also the main sellers and distributors of mut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Broker
A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confused with that of an agent—one who acts on behalf of a principal party in a deal. Definition A broker is an independent party whose services are used extensively in some industries. A broker's prime responsibility is to bring sellers and buyers together and thus a broker is the third-person facilitator between a buyer and a seller. An example would be a real estate or stock broker who facilitates the sale of a property. Brokers can furnish market research and market data. Brokers may represent either the seller or the buyer but generally not both at the same time. Brokers are expected to have the tools and resources to reach the largest possible base of buyers and sellers. They then screen these potential buyers or sellers for the perfe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Communication Network
An electronic communication network (ECN) is a type of computerized forum or network that facilitates the trading of financial products outside traditional stock exchanges. An ECN is generally an electronic system that widely disseminates orders entered by market makers to third parties and permits the orders to be executed against in whole or in part. The primary products that are traded on ECNs are stocks and currencies. ECNs are generally passive computer-driven networks that internally match limit orders and charge a very small per share transaction fee (often a fraction of a cent per share). The first ECN, Instinet, was created in 1969. ECNs increase competition among trading firms by lowering transaction costs, giving clients full access to their order books, and offering order matching outside traditional exchange hours. ECNs are sometimes also referred to as alternative trading systems or alternative trading networks. History The term ECN was used by the SEC to define, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equities Trading
A stock trader or equity trader or share trader, also called a stock investor, is a person or company involved in trading equity securities and attempting to profit from the purchase and sale of those securities. Stock traders may be an investor, agent, hedger, arbitrageur, speculator, or stockbroker. Such equity trading in large publicly traded companies may be through a stock exchange. Stock shares in smaller public companies may be bought and sold in over-the-counter (OTC) markets or in some instances in equity crowdfunding platforms. Stock traders can trade on their own account, called proprietary trading, or through an agent authorized to buy and sell on the owner’s behalf. Trading through an agent is usually through a stockbroker. Agents are paid a commission for performing the trade. Major stock exchanges have market makers who help limit price variation ( volatility) by buying and selling a particular company's shares on their own behalf and also on behalf of othe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
