Straight Through Processing

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Straight Through Processing (STP) System for all institutional trades w. e. f. July 1, 2004. The present circular contains the detailed system flow which was referred to in the said circular. 2) The system flow of the STP framework would be as follows: a) A STP user intending to send an instruction would send the message to his STP service provider after digitally signing the same. b) The .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rd the message to the recipient STP service provider after digitally signing on the message. e) The recipient STP service provider on receipt of the message from the STP centralized hub, shall verify the signature of the STP centralized hub, verify if the recipient STP user is associated with itself and send an appropriate acknowledgment with digital signature to the STP centralized hub. The ST .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... in Annexure I. 5) This circular is being issued in exercise of powers conferred by section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with section 10 of the Securities Contracts(regulation) Act 1956, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, D. RAVIKUMAR .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X