Asia watches as US returns to STP debate

The US Securities & Exchange Commission has renewed the debate in America over straight-through processing, but it is now clear that any move towards shortening the T+3 settlement cycle is moribund, says Lee Cutrone, New York-based managing director at vendor Omgeo. But the industry agrees in principle on encouraging same-day affirmation of trades (a process referred to as SDA). The prevailing mood is that SDA and central matching can lay the groundwork, or obviate the need, fo…