ISDA releases new digital documentation platform 15 June 2021US Reporter: Bob Currie
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The International Swaps and Derivatives Association (ISDA) has gone live with a new digital documentation platform that enables market participants to access ISDA documents in electronic format, while making it easier to search and access ISDA documentation.
The platform, labelled MyLibrary, has been developed through a partnership between Kinetix Trading solutions and Linklaters>Nakhoda, which were selected following a request for quotation (RFQ) conducted in June 2020.
Kinetix is a fintech company that specialises in AI-powered trade management and compliance tools.
Linklaters>Nakhoda is a start-up that brings together lawyers, designers and developers to build technology solutions, including a digital document automation and negotiation platform designed to facilitate access to structured legal data embedded in contracts.
MyLibrary will initially host the 2002 ISDA Master Agreement and 2021 ISDA Interest Rate Derivatives definitions, with a wider body of documentation to be added to the platform in months ahead.
Commenting on the release, ISDA’s CEO Scott O’Malia described the new platform as “a twenty-first century solution to the publication of ISDA documentation, providing our members with up-to-date digital versions of ISDA’s documentation and definitions. Using the platform means members will always be able easily to construct a full legal representation of a trade consistent with the terms applicable at the time the transaction was executed.”
Kinetix chief operating officer Paul Puskuldjian, says: “ISDA’s adoption of the Kinetix digitisation framework will offer the latest artificial intelligence and natural language processing techniques to help drive client- and business-centric innovation. This is an example of how our digitisation framework can be applied to any rulebook and is a stepping stone towards a feature-rich toolkit for industry participants.”
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