Straight Through Processing mandate requires institutional stock exchange trades to be routed via a centralised STP hub to ensure interoperability. A mandatory requirement compels all institutional trades executed on stock exchanges to be processed through a Straight Through Processing (STP) system to remedy inter operability gaps among STP Service Providers; a Centralised STP Hub has been established by an exchange to facilitate this. SEBI will issue a detailed circular specifying process flows, roles and responsibilities of STP Service Providers and the Centralised Hub and a standard agreement. Exchanges are directed to amend bye laws to permit electronic contract notes with digital signatures as legal documents, and the mandate is issued under SEBI's regulatory powers to protect investor interests and regulate the market.