STP refers to Straight-Through-Processing, meaning seamless processing from subscription to deposit booking.
To understand the processing of an ELTIF, knowledge of the value chain with the respective actors and their tasks is important:
👉 Asset Managers: Conceptualization and management of the funds
👉 Transfer Agents: Outsourced fund administration with register management
👉 Clearing and Settlement: Processing infrastructure
👉 Fund Platforms: Trading and custody of funds and central distribution agreement control
👉 Sales Channels: Advisory and closing of customer contracts
Also, an understanding of the challenges of the current value chain helps…
👉 Governance: Regulated and fragmented distribution network.
👉 Execution: Manual order management due to the specific characteristics of alternative funds in the private market.
👉 Distribution: Investor onboarding and subscription processes are paper-based and not designed to handle a large number of private investors on a large scale.
…to ultimately achieve a smart solution for processing and a scalable distribution.
