Partnership aims to strengthen Company’s data and agreements digitization offerings
Acadia, the leading industry provider of integrated risk management services for the derivatives community, today has announced a strategic partnership with Logical Construct, a firm that specializes in contract data and document management. Through the partnership, Acadia’s Agreement Manager has added Logical Construct as a non-hosted provider of digitization services provider.
Agreement Manager, part of the AcadiaPlus Agreements suite of services, enables fast, scalable consolidation and affirmation of legal and operational data via one cost effective interface. Logical Construct’s Lyncs Contract Lifecycle will be integrated into Agreement Manager via a standard adaptor to facilitate the exchange of mutual clients’ agreement data.
“Partnering with Logical Construct enhances our ability to deliver a centralized, digitized and single source representation of legal and margin agreements to the entire derivatives community,” said Richard Barton, Head of Product Management at Acadia. “We’re excited to continue working with some of the world’s premier platforms designed for accurately extracting data from any scanned financial services contract.”
Logical Construct built a standard adaptor to Acadia to support the exchange of agreement data of joint clients between Acadia and Logical Construct’s services. Logical Construct will digitize agreements in its own environment, extract data attributes from client agreements, and communicate them via Acadia APIs, offering joint clients the ability to send data to and receive data from Agreement Manager.
Paul Kelly, Co-Founder of Logical Construct, added, “By partnering with Acadia we can unlock immediate benefits for clients. Accurate, granular data from our Lyncs platform can flow directly to Agreement Manager, reducing operational costs and paving the way for more sophisticated management of collateral and risk data.”
