Description
OTC market still suffers from the inherent weakness of the counterparty risk and trust based model.
- Financial institutions can not avoid mediating disputes.
- Mediations refers to ISDA clauses included in specific contracts.
- The cost of mediation increases transaction costs.
The solution changes the OTC derivative business including the closing and the management of the life cycle. Major improvements are:
- Complete automation of activities related to OTC operativity - closing and management
- Automatic support of the mediation
- Translation in programmatic code of Confirmation's contractual terms
- Paperless workflow, automatic letters production, e-signature, archiving
- Improved transparency
- Full digitalized process and paperless workflow
- Immutable history of versions of legal documentation
The capability of the smart contracts code to observe a wide variety of events at the Exterior Level brings concrete benefits to the parties through automatic notifications management.
All notifications, actions, messages and attached documents are notarized in the blockchain.
