Four banks support SmartDX to create the first Master Confirmation Agreements fully negotiated and executed in a secure and compliant cloud environment.
London, April 7, 2016 – SmartDX, from the Smart Communications division of Thunderhead, today announced that, for the first time, Capital Markets documentation has been fully assembled, negotiated, and executed in a Software-as-a-Service (SaaS) collaborative environment. SmartDX, the industry standard for automating trade and relationship document generation and negotiation, has been actively supported and developed by the SmartDX Steering Group.
The first types of documents to be collaborated upon and executed using SmartDX are Master Confirmation Agreements (MCAs). Thunderhead built the MCA templates and added them to the Smart DX base template library. Participants can then opt to use these base templates or add controlled customization to make them specific to their own requirements.
SmartDX has enabled the participating counterparties to assemble, negotiate, process changes, and electronically sign-off the agreement in a secure SaaS environment. MCAs executed on the platform are supporting live trade transactions. SmartDX also provides a machine-readable XML copy of the document so the underlying data can be processed by downstream counterparty systems for compliance and audit purposes.
“Using the collaboration capabilities of SmartDX, investment banks can rely on a secure, centralized service that makes the documentation process more efficient and less costly as well as fully transparent and digitally-accessible,” said Robin Moody, Head 0f Capital Markets, SmartDX, “We’re pleased to have the support and guidance of the Steering Group to help shape the latest release of SmartDX, delivered in February 2016, as well as future versions.”
Over the coming months SmartDX will broaden the functional scope of the solution to support pre-trade relationship documentation to address the regulatory requirements for ISDA Master Agreements and CSAs as well as helping firms adhere to regulatory post-trade documentation deadlines.
SmartDX, from the Smart Communications division of Thunderhead, is the industry standard for automating trade and relationship document generation, processing and collaboration in the Capital Markets.
Trusted by all of the G15 investment banks and some of the world’s largest energy and commodity companies, SmartDX helps simplify the negotiation and execution of trade and relationship documentation for all market participants, across all document types, asset classes and product types.
SmartDX, from the Smart Communications division of Thunderhead, serves its global customer base from offices located in North America, Europe and Asia Pacific.
To learn more about SmartDX, visit: https://www.smartcommunications.com/products/smart-dx/