AcadiaSoft and the International Swaps and Derivatives Association (ISDA) have formed a partnership to streamline integration between the solution, ISDA Create and AcadiaSoft’s AgreementManager offering.
Market participants will be able to create, negotiate and execute their ISDA documentation on ISDA Create and operationalise the terms agreed in such documentation on AgreementManager.
According to AcadiaSoft, 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 four and five of the uncleared initial margin rules.
Chris Walsh, CEO at AcadiaSoft, said: “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.”
Richard Barton, head of strategic new product development at AcadiaSoft, commented: “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.”
Katherine Darras, general counsel at ISDA, said: “We are excited to have AcadiaSoft as the first solution provider to connect to the ISDA Create platform. ISDA’s strategic goal to deliver electronic documentation in a structured data format runs parallel to AcadiaSoft’s efforts to optimise 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.”
