Straight Through Processing mandatory for institutional trades settled via custodians; electronic contract notes supplant physical issuance. Straight Through Processing is mandatory for institutional trades that are settled through a custodian; trades settled directly between an institution and a broker without a custodian are not covered by this STP mandate. Where an institutional trade receives an electronic contract note in the prescribed STP format, brokers are prohibited from issuing a physical contract note for that trade to prevent duplication and inefficiency.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Straight Through Processing mandatory for institutional trades settled via custodians; electronic contract notes supplant physical issuance.
Straight Through Processing is mandatory for institutional trades that are settled through a custodian; trades settled directly between an institution and a broker without a custodian are not covered by this STP mandate. Where an institutional trade receives an electronic contract note in the prescribed STP format, brokers are prohibited from issuing a physical contract note for that trade to prevent duplication and inefficiency.
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