Post Trade Integration or STP
Deal Types
STP is initially required for FX SPOT, however SWAP and FWD deals are automatically catered for. FX Options, FX Futures, Options on Futures, Interest Rate Derivatives and Credit Derivatives are also available.
Workflows
The ViSTRA STP engine will support both polling and subscription workflows:
- Polling – A status request is performed by the Buy-Side client at agreed intervals. When the status response indicates that new records are available then a subsequent request is performed to obtain the new ticket details.
- Subscription – A subscription request is performed by the Buy-Side client to subscribe to new ticket updates. A status response is returned which allows the client to determine if any pre-existing tickets are available, and retrieve them if required. Any new deal tickets will be sent through to the Buy-Side asynchronously. Each subscription will expire at the end of a predefined lease period.
STP FIX Integration
BGC will provide an externally facing FIX (4.X) channel as their standard STP API gateway. The ViSTRA STP Engine will integrate to this Sell-Side Interface and provide the means to connect to a wide selection of commonly used Buy-Side back-office systems. Connectivity can be via the Internet or optionally via BT Radianz.