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20 Nov 2024
16 Nov 2022
Saphyre's Platform Allows Legal Agreements to be Digitally Amended Parallel to All Onboarding Activities
Saphyre’s pre-trade and post-trade platform, which is utilized by some of the world’s leading financial institutions for account onboarding and maintenance, is now able to digitally track and permit parties to negotiate legal agreements on the platform all while enriching the entire end-to-end onboarding process.
As shared recently when Legal & General Investment Management joined the Saphyre platform, the legal module within Saphyre is agreement type-agnostic (ISDA, GMRA, MSFTA, MRA etc.) and has templates to digitally structure ISDAs and many other types of agreements. The Saphyre system stores a digital version of the master agreement while maintaining its annex of active accounts as well as tracking any removals as part of the offboarding process. The streamlined process is automatically aligned with the broker and end-client onboarding workflows when a new account is opened. This process allows the system to kick off the legal workflows to add new accounts to the existing digital master agreement on the platform.
“Saphyre’s legal component is a pivotal part of the entire onboarding cycle especially when it comes to containing all workstreams in one single connected ecosystem,” says Saphyre Chief Product Officer Ishaq Khwaja. “Digitizing legal agreements and their amendments within a few clicks shows how Saphyre can bring more efficiencies and get firms ready to trade faster.”
Saphyre’s AI-driven, interoperable onboarding platform helps buy-sides and sell-sides, lenders and borrowers, as well as custodians and fund accountants, remove the bottlenecks created by legacy systems and manual processes. By automating the onboarding and account maintenance processes using Saphyre’s AI, institutions can reduce the potential for errors, increase the speed of transactions and provide more transparency to their stakeholders.
About Saphyre
Saphyre leverages patented AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians, and much more. Saphyre’s platform maintains memory of data and documents, resulting in clients not having to search or resubmit information, and expedites flow in a digitally structured manner so that it can be consumed and understood by any permissioned counterparty in the finance industry. This allows firms not only to assess risk faster but they can speed their onboarding processes, get real-time ready-to-trade statuses per account, and eliminate 70%-75% of redundant or inefficient post-trade activities.
ISDA® is a registered mark of the International Swaps and Derivatives Association, Inc. Saphyre has no affiliation with ISDA, which has neither reviewed nor approved the services offered.
