Garbage in, garbage out

Alex Hungate, chief marketing officer at Reuters, talks to FinanceAsia about market reception for the new STP market utilities and the importance of reference data.
Q. In the past few months many of the industry initiatives created to boost STP have finally gone live û GSTP and Omgeo's virtual matching utilities, SWIFTNet and the CLS Bank. What is your view on their reception in the market The market conditions in 2002 have been challenging. Firms are telling us that their commitment to STP û by way of reducing costs, improving controls and delivering superior customer service û remains unchanged. What has changed has been the lack of inclination on the part of the buy-side to invest behind missions such as T1. The success of VMUs running centralised matching will depend to a large extent...

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