Ark 51 adopts ISDA’s CDM
06 November 2024 US
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Ark 51 has adopted the International Swaps and Derivatives Association’s (ISDA’s) Common Domain Model (CDM) to convert information from ISDA’s regulatory initial margin (IM) and variation margin (VM) credit support annexes (CSAs) into digital form.
The firm is an artificial intelligence and data analytics service developed by legal services provider DRS.
The CDM is designed to transform that data into a machine-readable format that can be exported to other systems, cutting the resources associated with manual processing.
It is the latest firm to adopt the model to reduce the operational, liquidity and counterparty risks associated with key collateral management processes.
Paul Hands, chief technology officer of DRS, says: “The CDM is a brilliant concept that enables data to be transformed into a digital output — this aligns well with our Ark 51 platform, which extracts data from PDF documents.
“It is important to continue the community-driven effort to further develop the CDM and digitise documents for data analytics purposes.”
ISDA’s CEO Scott O’Malia adds: “We are delighted that Ark 51 has mapped its AI capabilities for IM and VM CSAs into CDM output.
“This will allow firms to better analyse CSA-related data, and the output can be used to streamline the onboarding of legacy documents to new technology platforms, increasing efficiencies and reducing operational risks within the collateral management ecosystem.”
The firm is an artificial intelligence and data analytics service developed by legal services provider DRS.
The CDM is designed to transform that data into a machine-readable format that can be exported to other systems, cutting the resources associated with manual processing.
It is the latest firm to adopt the model to reduce the operational, liquidity and counterparty risks associated with key collateral management processes.
Paul Hands, chief technology officer of DRS, says: “The CDM is a brilliant concept that enables data to be transformed into a digital output — this aligns well with our Ark 51 platform, which extracts data from PDF documents.
“It is important to continue the community-driven effort to further develop the CDM and digitise documents for data analytics purposes.”
ISDA’s CEO Scott O’Malia adds: “We are delighted that Ark 51 has mapped its AI capabilities for IM and VM CSAs into CDM output.
“This will allow firms to better analyse CSA-related data, and the output can be used to streamline the onboarding of legacy documents to new technology platforms, increasing efficiencies and reducing operational risks within the collateral management ecosystem.”
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