AUTOMATION AND STP, held 23 June in London, taped Intel’s sight of market innovation to paint a cross section across the rapidly changing landscape.

The life blood of financial services and global commerce is built around the exchange of messages between counterparties to trades and transactions.

Whether it be securities or trade value chains, agreements are struck to trade and settlement proceeds through to payment through mediums and parties often unknown to each other.

SWIFT has blazed the trail in standardizing settlement message formats and created a transition in the industry over the last 30 years. Other message formats and bodies have followed successfully, FIX Protocol Limited for equities, RosettaNet for technology, and technology and data initiatives such as FpML, AMQP.

Arriving at standards has proved an horrendous complex journey, during which time a thriving industry has been bred in technologies and ASP services between communicating lingua franca or simply take the pain away in an service contract.

Today we arrive at new market structures – RegNMS and MiFID have been commented upon in global securities, SEPA stands to change the landscape for European payments and new technologies could revolutionise the manner in which counterparties communicate – functional disintermediation through automation is a real possibility.

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