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What is Straight through Processing?

Friedberg Direct utilizes Straight Through Processing (STP) No Dealing Desk execution. An STP Forex broker is one that does not have a dealing desk but instead passes through customer buy and sell orders directly to one or several liquidity providers of the interbank market who become the counter party to the customer's trade. The advantage of an STP broker over an ECN is the fact ECNs may internally match orders with their clients which Friedberg Direct, as an STP, does not do.