Following our recent webinar, Managing OTC Derivatives Documentation in a Central Clearing Environment, Julia Schieffer posted a list of her favorite resources for derivatives professionals in search of explanations for some of the jargon used in the derivatives industry.
We have partnered with InsideCounsel Magazine to survey how in-house legal departments assess the effectiveness of their current sales contracts creation and management processes. The survey launched yesterday and will be open for two weeks.
Spring seems to be the season of surveys and we're being alerted to several. Since many of these contracts surveys have a direct correlation to contract creation (document assembly) and contract management, we'll be sharing interesting findings. Where appropriate, we'll also provide links to the surveys.
Compared to the typical environment for bilaterally traded OTC derivatives, central clearing adds complexity through the inclusion of multiple parties and the need to manage different sets of legal contracts. In this new market environment, if documentation management is not streamlined, financial institutions will face increased legal costs and operational risks.
You like to think you're efficient- don't you? Maybe even more so than the next person. These days, efficiency is more important than ever and no where is it more important than in your contracts process.
The legal department generally owns the sales contracts process, but clearly sales management has a stake. While Legal is concerned with reducing risk, Sales is concerned with speed.
On his blog, Law Department Management, Rees Morrison shared that Mark Harris, the CEO of Axiom, referred to a surprising finding from one of his company’s projects. Harris referred to long-term contracts and their “revenue leakage.”
We have great clients. And nothing pleases us more than when we can contribute to their success. Take, for example, leading UK law firm Dickinson Dees. The firm originally implemented Exari two years ago to automate information technology and outsourcing agreements.
The Dodd-Frank Wall Street Reform and Consumer Protection Act and recent FSA regulations have put pressure on investment banks and buy-side institutions to consider new methods to manage both legacy and new master agreements (ISDA, CSA, GMRA, GMSLA, IFXCO etc.).
We are pleased to share the news that Akin Gump Strauss Hauer & Feld LLP has selected Exari to help streamline its clients’ decision-making process and to achieve efficiencies in delivering legal services to its investment fund clients.