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Gather 1,500 individuals from 350 organizations worldwide that trade securities or support the securities industry, from the largest to the smallest broker/dealers, investment firms and a variety of custodians, vendors, and utilities essential to the business. Let them discuss both overarching and specific straight-through processing procedures and other communications issues. And they’ll devise practical and achievable solutions to reduce inefficiencies, lower risk, and build shareholder value.

Time and again, the industry takes notice of the proposed changes, modifies their procedures to match, and benefit from these changes.

This volunteer-administered forum is the International Securities Association for Institutional Trade Communication. ISITC provides industry colleagues with the opportunity to work together to improve the communications processes vital to the trades on which their businesses rely.

History

The International Securities Association for Institutional Trade Communication was founded in 1991 by a dozen industry competitors who came together for the purpose of facilitating straight-through processing among custodian banks, investment managers, and broker/dealers. Issues were discussed, best practices applied, and recommendations were written and presented. The group’s companies adopted these recommendations – and other companies quickly followed suit.

It was at this point that members realized the group could revolutionize trade processes by continuing this course of action. It did, and the press and securities industry took notice.

With help from ISITC members, securities trades are now completed in three days instead of five. Rekeying has been minimized. Many more communications innovations have been adopted, and numerous others are being created.

ISITC is now 1,500-individuals from 350 companies worldwide. The group has expanded beyond STP, adding other communications-related processes to the list of elements it wishes to improve in order to make securities trades faster and more accurate.