 The system was enhanced with the introduction of Straight-Through-Processing (STP) in September 2006.The STP facility generates settlement instructions from trades in the centralized transaction data base in the Trading System and publishes them into a secure website for the Operations Personnel of Trading Participants to reconcile and authorize.Once authorized, the settlement instructions are sent through to the Bureau of the Treasury (BTr), which operates the Delivery-versus-Payment Service for Government Securities with the Bangko Sentral ng Pilipinas (BSP, the Philippine Central bank).