Straight-Through Processing (STP)
The onExchange Extensible Clearing System (ECS) is designed for use in STP environments where information is processed in real time or near real time from trade capture through settlement.

Connecting Upstream and Downstream

ECS offers unprecedented flexibility in integrating with both upstream and downstream systems. Integration can be loosely coupled, tightly coupled, based on a messaging paradigm, simple flat files, or Remote Method Invocation (RMI). Customers choose the integration technique that best meets their requirements.

24x7 Real-Time Processing

STP requires continuous processing of transactions on a 24x7 basis. ECS is capable of processing information on a real-time basis or executing frequent batch runs to simulate real-time processing of requests. Exploiting replicated servers and clustering technology allows ECS to be run in a 24x7 disaster-tolerant environment.

Immediate Confirmation and Exception Notification

The outcome of transactions is immediately available. Reports are updated, trade confirmations are sent, and exceptions are reported as soon as the transaction is completed.