Definitions

Straight Through Processing (STP)
In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages.

Web Services
The W3C defines a Web service as a software system designed to support interoperable machine-to-machine interaction over a network.

Business logic comprises

• business rules that express business policy (such as channels, location, logistics, prices, and products); and
• workflows that are the ordered tasks of passing documents or data from one participant (a person or a software system) to another.
  

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