Summit Press Publishes First Book on
STP for the Financial Services Industry
NEW YORK, August 23 - Summit Press, a division of The Summit Group, has announced the publication of the first book on STP specifically for financial services. Edited by Hal McIntyre, Straight Through Processing for the Financial Services Industry is an easy to use, practical handbook to implementing STP in broker/dealers, banks and investment management firms.
Although much has been written about STP, most articles and books take a single viewpoint and provide a limited scope. This new book, written by experts in their own fields and edited by a leading expert on STP in the financial services industry, examines the relationships and interactions between different functions and different types of firms, all with an eye toward best practices and practical solutions.
This comprehensive book introduces the concepts of STP and provides the results of some original research by The Summit Group, presents some of the key industry solutions, evaluates issues encountered by specific areas when processing trade transactions, examines STP for support areas such as Corporate Actions, Accounting and Reconciliations, and includes chapters on how to actually implement STP.
"Although the push for T+1 has been stalled, there are still many opportunities for firms to improve their process," commented the book's Editor, Hal McIntyre, who is a managing partner of The Summit Group, a New York-based consulting firm that specializes in management consulting, market research and systems integration.
Mr. McIntyre is also the author of the industry bestsellers, How the US Securities Industry Works and the Securities Operations Glossary, and is the co-editor of Software Testing for Financial Services Firms.
To arrange an interview with Mr. McIntyre, or to request a copy of the book for review, contact the Publisher, Scott Porter, at 212-328-2500 x242.
ABOUT THE SUMMIT GROUP
The Summit Group [www.tsgc.com] has provided management consulting, market research and systems integration services to banks, brokers and investment managers for over fifteen years. Customers include such leading financial services firms as Citibank, Bankers Trust, Deutsche Bank, State Street Global Advisors, Alliance Capital, AIG, DTC, Thomson Financial Services and others.
Some recent major projects include the development of a Cash Management Account process in Hong Kong, maintenance of a worldwide securities settlement system, development of a global risk management system, and complete testing of a processing application. The Summit Group has been selected by Crain's Business Weekly as one of the Top 25 Management Consulting firms in New York for the fourth year in a row, and has supported firms throughout the industry in selecting and implementing Middleware and in integrating systems across multiple platforms to support Straight Through Processing.
In addition, The Summit Group, through its Securities Operations Forum subsidiary, publishes two online newsletters, Securities Operations Letter and Global Custody News, which are read by over 4,000 people worldwide; and provides open enrollment and custom training classes to over 2,000 securities professionals annually. Securities Operations Forum also hosts eight to ten conferences annually on a wide range of topics of interest to the financial services industry, and Summit Group Press publishes books of interest to the securities industry such as How the US Securities Industry Works, and the Securities Operations Glossary.
Securities Operations Forum was recently selected by ISITC to develop and deliver a complete eLearning industry credential, the Securities Industry Professional, that is recognized by the securities industry as the only comprehensive program for securities operations, technical and administrative staff.