AcadiaSoft Partners with ISDA to Streamline Integration with ISDA Create
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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.
AcadiaSoft Inc.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 [email protected]
for more information.
About ISDA Create
ISDA Create is ISDA’s flagship document negotiation platform that builds
on ISDA’s 30+ 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.
About AgreementManager
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.
For more information visit acadiasoft.com.
Follow us on Twitter: https://twitter.com/AcadiaSoft
and LinkedIn: https://www.linkedin.com/company/acadiasoft-inc/.
AcadiaSoft® is a registered trademark of AcadiaSoft, Inc.
About ISDA
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190129005451/en/