STP Interoperability
Apress eBooks · 2006
SummaryIn this chapter, we discussed following points: We talked about the need for interoperability between STP providers and how it will benefit business entities such as brokers, fund managers, and custodians in different ways. We discussed different types of challenges encountered in achieving interoperability. We covered the architecture of Web services and how the underlying principles ensure wide reach and enable interoperability between STP providers. We gave a brief overview of the building blocks of Web services such as SOAP and WSDL. We implemented a simple Web service that supports sending contract note information between STP providers in an interoperable fashion. We illustrated the advantage of a UDDI repository in establishing an STP provider consortium. We showed how WS-* extends the capabilities of basic Web service functionality by providing advanced features such as security, routing, and policy enforcement. We depicted a blueprint of Web-STP that demonstrates various components of Web services and how they connect an individual STP provider and market participants to represent the next-generation platform for automating STP.