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 a collaboration 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 renegotiated in connection with the implementation of phases four and five of the initial margin (IM) requirements for non-cleared derivatives.
“AcadiaSoft clients can now benefit from automated agreement onboarding to ensure they will be in compliance with 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,” added Richard Barton, Head of Strategic New Product Development at AcadiaSoft.
“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 email@example.com for more information.
About ISDA Create
ISDA Create is ISDA’s flagship document negotiation platform that builds on ISDA’s 30-plus-year track record in developing industry standards and documentation. ISDA Create currently has a UAT environment that is being tested by market participants. ISDA Create will launch its production environment on January 31, 2019.
AcadiaSoft’s AgreementManager, currently in its pilot phase, will provide seamless integration with ISDA Create, so that market participants can automatically transfer the data from the legal agreements formed on ISDA Create into AcadiaSoft’s risk and collateral management services.
About AcadiaSoft, Inc.
AcadiaSoft, Inc. is the leading industry provider of risk and collateral management services for the non-cleared derivatives community. The AcadiaSoft Hub encompasses a suite of applications and analytics that enable and measure the complete STP workflow from CSA agreement management, risk services, margin and collateral management through to settlement. Backed by 17 major industry participants and market infrastructures, AcadiaSoft is used by a community of more than 650 firms exchanging approximately $400B of collateral on daily basis via its margin automation services. AcadiaSoft is headquartered in Norwell, MA and has offices in London, New York and Tokyo.
AcadiaSoft® is a registered trademark of AcadiaSoft, Inc.
Since 1985, ISDA has worked to make the global derivatives markets safer and more efficient. Today, ISDA has more than 900 member institutions from 69 countries. These members comprise a broad range of derivatives market participants, including corporations, investment managers, government and supranational entities, insurance companies, energy and commodities firms, and international and regional banks. In addition to market participants, members also include key components of the derivatives market infrastructure, such as exchanges, intermediaries, clearing houses and repositories, as well as law firms, accounting firms and other service providers. Information about ISDA and its activities is available on the Association’s website: www.isda.org. Follow us on Twitter @ISDA.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.