Automated agreement negotiation will help industry prepare for Phases 4 and 5 of the uncleared initial margin rules
AcadiaSoft Inc., the leading industry provider of risk and collateral management services for the non-cleared derivatives community, and the International Swaps and Derivatives Association, Inc. (ISDA) today announced the formation of a partnership to streamline integration between ISDA Create and AcadiaSoft’s AgreementManager offering.
ISDA Create and AgreementManager are complementary offerings. Market participants will be able to create, negotiate and execute their ISDA documentation on ISDA Create and operationalize the terms agreed in such documentation on AgreementManager. The ability to automate data transfer between ISDA Create and AgreementManager will allow the industry to cope with the vast number of agreements that are expected to be negotiated or re-negotiated in connection with the implementation of Phases 4 and 5 of the uncleared initial margin rules.
“AcadiaSoft clients can now benefit from automated agreement onboarding to ensure they will be in compliance with Initial Margin (IM) requirements as soon as they execute their legal agreements via ISDA Create,” said Chris Walsh, CEO at AcadiaSoft.
“The standard adaptor between AcadiaSoft and ISDA Create will allow market participants to automatically set up their executed legal agreements and use the AcadiaSoft Hub to support operational processes such as sensitivity and ISDA SIMM™ calculations and the resulting margin call workflow,” Richard Barton, Head of Strategic New Product Development at AcadiaSoft added.
“We are excited to have AcadiaSoft as the first solution provider to connect to the ISDA Create platform,” said Katherine Darras, General Counsel at ISDA. “ISDA’s strategic goal to deliver electronic documentation in a structured data format runs parallel to AcadiaSoft’s efforts to optimize the collateral workflow. AcadiaSoft has built a standard adaptor between our respective application programming interfaces that consolidates legal agreements into the AcadiaSoft Hub, automatically transitioning executed legal agreements into agreements that are operationally ready to calculate IM and manage the collateral workflow.”
ISDA and AcadiaSoft are now ready to demo their joint service to potential clients. Please contact isdacreate@isda.org for more information.
