The International Swaps and Derivatives Association (ISDA), S&P Global Market Intelligence and Linklaters have announced the launch of an integration between ISDA Create and S&P Global Market Intelligence’s Counterparty Manager service, aimed at simplifying client onboarding and contract lifecycle management by allowing the end-to-end negotiation of key derivatives contracts on one platform.
ISDA Create is an online solution to help financial institutions draft, negotiate and execute derivatives documents online, including the ISDA Master Agreement, ISDA variation margin documentation and account control agreements for certain custodians. It’s a module of CreateIQ, a contract negotiation platform developed by Linklaters. The integration with Counterparty Manager covers all modules on the CreateiQ platform, incorporating other capital markets contracts.
Counterparty Manager is used to exchange information when opening a trading relationship and includes ISDA Amend, an online tool that enables market participants to modify multiple ISDA Master Agreements and share regulatory representations with counterparties. The integration means firms can now use ISDA Create’s functionality to draft, negotiate and execute ISDA Master Agreements and other key derivatives documents directly within Counterparty Manager – allowing institutions to access the details of all their contractual relationships in a digital form from a single location.
The launch follows a successful trial phase involving select banks and asset managers that used ISDA Create via Counterparty Manager to amend ISDA documentation.
“In today’s digital age, it was only a matter of time before trade documentation became part of that. The partnership of these three organizations is bound to produce a deliberate, strategic and well-executed platform,” said Lindsay Gurbacki, vice president for EMEA Regulatory Reporting and derivative compliance manager at AllianceBernstein, in a statement.
“This integration will enable users to quickly access a digital record of their contractual and relationship data in a single place, creating significant operational efficiencies for firms, as well as reducing risk. We’re delighted to take this next important step on the journey to automated derivatives markets,” said Katherine Tew Darras, ISDA’s general counsel, in a statement.
“We are thrilled to announce this launch. It is the result of months of challenging work between ISDA, Linklaters and S&P Global Market Intelligence to deliver something that our clients truly want. Since we started CreateiQ, we put interoperability with other systems at the core of our offering, but now we can go one step further – delivering with S&P Global Market Intelligence an end-to-end solution for capital markets contracting,” said Shilpa Bhandarkar, CreateiQ’s chief exec, in a statement.
“We are building a complete ecosystem leveraging tools like CreateiQ to help our clients with their contracting needs, and we will continue to enhance our offering to solve the market’s biggest challenges,” said Lansing Gatrell, managing director of Platforms & Regulatory Compliance at S&P Global Market Intelligence, in a statement.