Straight Through Processing: refers in the realm of payment traffic to the automatic processing of payment transactions from the ordering party right through to the beneficiary. The acronym is also used in connection with securities trading but the process involved is different.
Straight Through Processing (STP) defines business processes in such a way that transactional data is entered only once. Its goal is to eliminate inefficiencies in business processes, such as manual re-keying of data (for example, re-keying a purchase order into a credit verification system) or unnecessary batching of data (such as batching of transactions for periodic processing).
Straight Through Processing. The goal of STP is the achievement of completion of an item of work through its entire life cycle without manual intervention.
Straight Through Processing. Straight through processing is the ability to automatically process transactions from initiation to resolution.
"Straight-through processing". The ability to seamlessly pass and enrich information among disparate systems within a financial services institution, as well as globally to trading partners, exchanges, depositories, clearing agents, and other securities participants.
Straight Through Processing occurs when a transaction, once entered into a system, passes through its entire life cycle without any manual intervention. STP is an example of a Zero Latency Process, but one specific to the finance industry which has many proprietary networks and messaging formats.
See straight through processing.
Straight Through Processing. The end-to-end processing of automated data without manual intervention. See XML