Article: When The Law Meets Technology25 January 2017 | Robin Moody
Repapering Credit Support Annex For March 1st
Across the banking industry, the combination of lawyers and technology hasn’t kept pace with automation throughout the trade processing lifecycle. One area that has resisted reform so far is the process of creating, revising and executing documents like the ISDA Master and CSAs, something that still relies upon Word and email.
This article intends to explain the risks and benefits of moving from the traditional approach to a collaborative web-based platform called SmartDX. We’ve broken down the two approaches by categories and then compared each one with a realistic view of the risks and benefits of each. The background research for this article included consultations with independent lawyers who have not used SmartDX, but who were offered to share their opinion on the collaborative web-based platform. As we proceed, we’ll build up a side-by-side picture of how each approach compares and summarise at the end.
Applying technology to the existing legal negotiation process needs a