The International Swaps and Derivatives Association (ISDA) and Linklaters announced last week on 18 June 2020 that they will expand the ‘ISDA Create’ platform to three additional documentation modules available for 2020. This development will allow users to agree on additional documentation online with a complete digital record, subsequently bringing further automation and efficiency to the negotiation of derivatives agreements.
With the rapid advancements in technology, revolutionising all facets of the derivatives market, derivatives trading and processing have become significantly more automated and efficient over the years. ISDA and Linklaters first launched ISDA Create in January 2019, an online solution that allows buy-and-sell-side firms to electronically produce, deliver, negotiate and sign off on derivatives documents in a completely virtual environment. This comes at a period where paper and wet signatures have become increasingly inefficient for these procedures. ISDA Create has therefore been developed to remove these inherent inefficiencies.
‘ISDA Create – IM’ (Initial Margin) was the first delivered electronic solution to efficiently manage the IM documentation virtually between parties. The three additional documentation modules released this year will join the existing ISDA Create – IM module.
ISDA have also announced that as part of the ISDA Master Agreement functionality, ISDA Create will incorporate the forthcoming ‘ISDA Clause Library’ – a new drafting tool which aims to introduce greater standardisation in how firms negotiate and agree clauses within ISDA documentation.
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