The benefits of Straight Through Processing (STP) are indisputable and include:
- Trade accuracy
- Reduced operating costs
- Minimized settlement risk
- Increased transaction speed
STP optimizes transaction speed by allowing information to be entered and transferred electronically, eliminating the need to re-enter data several times. But achieving STP poses particular challenges for the energy industry: trading environments are far from digitized, transaction types don’t allow for instant delivery to risk systems in their final form and business policies require multiple data checks before a transaction can be “accepted” as valid. These obstacles are best solved through quality information management and event-based data processing.
ConfirmHub facilitates STP via a web services-based API. Easily implemented and built to handle bi-directional flow, the ConfirmHub API is your gateway to the benefits of STP. The ConfirmHub's easy-to-understand, web-based interface makes managing confirmations fast and simple.
Learn more about ConfirmHub's API.