Acadia announced a strategic partnership with Logical Construct, a firm that specializes in contract data and document management to act as a non-hosted provider of digitization services.
Acadia’s Agreement Manager service provides fast, scalable consolidation and affirmation of legal and operational data via one 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, in a statement, adding that the platform is 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, said in a statement: “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.”