The ISDA Common Domain Model (CDM) is a digital representation of the events and actions surrounding derivatives trading, a standardisation initiative that ISDA has been working on for a few years. Version 2.0 of the CDM included an initial representation of the ISDA Credit Support Annex, and this caught our attention at Logical Construct. I’ve Read more about ISDA Common Domain Model: Get In Tune[…]
Better risk management preparations in light of COVID-19 Shock The economic fall out from the global pandemic is already being felt in a number of places in the financial sector, but the true extent is still largely hidden with governments doing their best to prop up economies. A glimpse of the contractual risks in Read more about Derivatives Contract Risk[…]
The frameworks of standard documentation for OTC Derivatives, Securities Lending and Repurchase Agreements have been tested by a succession of financial crises since they were widely adopted in the 1990’s. The Asian currency crisis, the Russian debt default, the Global financial crisis and the European sovereign debt crisis have all forced financial services firms back Read more about Know Your Master Agreements – be prepared for the next crisis[…]
Way back in 2013 I wrote an article in FX-MM magazine (no longer operating) about the ‘false economy of the million dollar spreadsheet’. The article was inspired by the panic that happened across the financial markets in the wake of the financial crisis. Banks poured lots of resources (and expensive legal review) into pulling out information from Read more about Is your contract analysis tool just a new version of an expensive spreadsheet?[…]
Stop talking, start doing! Logical Construct are pleased to launch a new LIBOR module designed for organisations looking for a low-cost solution to automate the first stage of benchmark reform contract analysis. Recent market surveys indicate a large number of organisations are yet to start tackling benchmark reform, with many completely unsure of the scale Read more about LIBOR-Lite Module Launched – Low Cost Start To Benchmark Reform[…]
The LIBOR transition is one of the broader reaching changes to affect the financial services industry in recent years due to the wide range of products it affects. As part of that process many existing financial products offered to clients will need to change, so along with the obvious costs and financial and operational risks Read more about LIBOR transition: The FCA is thinking about conduct risk – are you?[…]
Initial Margin Deadlines Looming With the next phase of the Initial Margin (IM) for uncleared derivatives in progress, increasing numbers of market participants will need to comply over the next 3 years. So far, only the largest sell-side banks have implemented, but more market participants with less pre-existing infrastructure will be caught by phases 3 Read more about Logical Construct announces support for Initial Margin[…]
Thomson Reuters has teamed up with Logical Construct to help global financial institutions gain visibility into the key legal and economic terms and risks hidden within their legal documentation with a full-service contract data management solution.
“Many financial services companies still face the daunting challenge of accessing data that lies buried in image-based scans of contractual documents,” said Luke Trigg, Managing Director, Logical Construct. “We are excited Thomson Reuters is collaborating with us and leveraging our platform to round out its industry-leading legal managed services for the benefit of global banks and other financial institutions.”
Still sprinting for finishing line of Uncleared Margin Reform? Hope you are keeping good records!
With the banking regulation spotlights focused heavily on uncleared margin reform (UMR) for the last 6 months, you might not have noticed the latest Bank Recovery and Resolution Directive update on record keeping for financial contracts coming into law in October 2016, requiring banks to maintain specific, minimum records on their financial contracts.
Logical Construct launches Variation Margin data capture solution to help banks meet the uncleared margin reform deadlines.
If you value the accuracy of your data and want to do something better in less time, come and talk to us.