ISDA® Launches ISDA Create-IM and Partners with AcadiaSoft to Allow Firms to Execute and Manage Initial Margin Documentation Online | Practical Law

ISDA® Launches ISDA Create-IM and Partners with AcadiaSoft to Allow Firms to Execute and Manage Initial Margin Documentation Online | Practical Law

ISDA launched ISDA Create-IM and announced a partnership with AcadiaSoft Inc. to integrate ISDA Create and AcadiaSoft's AgreementManager, which will enable market participants to create, negotiate, and execute their ISDA initial margin (IM) documentation on ISDA Create and operationalize the agreed terms in AgreementManager.

ISDA® Launches ISDA Create-IM and Partners with AcadiaSoft to Allow Firms to Execute and Manage Initial Margin Documentation Online

by Practical Law Finance
Published on 31 Jan 2019 • International, USA (National/Federal)
ISDA launched ISDA Create-IM and announced a partnership with AcadiaSoft Inc. to integrate ISDA Create and AcadiaSoft's AgreementManager, which will enable market participants to create, negotiate, and execute their ISDA initial margin (IM) documentation on ISDA Create and operationalize the agreed terms in AgreementManager.
On January 31, 2019, ISDA® launched the full version of ISDA Create-IM, the first offering under the ISDA Create electronic platform. ISDA Create–IM aims to allow firms to execute and manage initial margin (IM) documentation online by enabling market participants to negotiate, capture, process, and store data from legal documents on the platform. ISDA Create-IM is available to both ISDA members and non-members.
A beta version of ISDA Create–IM was launched in October 2018 (see Legal Update, ISDA® and Linklaters Launch Initial Margin Documentation Tool). The final version of ISDA Create-IM is based on feedback from buy-side and sell-side users and:
  • Includes umbrella agreements and a bulk upload functionality.
  • Allows users to deliver IM documentation to multiple counterparties simultaneously, and then negotiate and execute those documents on an online platform.
ISDA plans to add other tools to the ISDA Create platform over time, based on industry needs, in order to create an electronic negotiation and execution ecosystem for ISDA and related documentation.
On January 29, 2019, ISDA and AcadiaSoft Inc. announced plans to streamline the integration between ISDA Create and AcadiaSoft's AgreementManager. AcadiaSoft Inc. provides risk- and collateral-management services for uncleared derivatives and created AgreementManager as a complementary offering to ISDA Create. AgreementManager enables market participants to create, negotiate, and execute their ISDA documentation on ISDA Create and operationalize the agreed terms in AgreementManager.
ISDA anticipates that many entities will be brought in-scope for the September 2019 and 2020 (Phase 4 and Phase 5) global IM regulatory deadlines (see Practice Note, The Dodd-Frank Act: Margin Posting and Collection Rules for Uncleared Swaps: Compliance Dates for Initial Margin Requirements). The automatic transfer of data between ISDA Create and AgreementManager is designed to help the industry handle the large number of agreements that are expected to be negotiated and renegotiated in accordance with Phase 4 and Phase 5 IM requirements.
Update: On September 4, 2019, ISDA and Linklaters announced the addition of a custody function to ISDA Create-IM. For details, see Legal Update, ISDA and Linklaters Add Custody Function to Initial Margin Documentation Tool.
"ISDA" is a registered trademark of the International Swaps and Derivatives Association, Inc. (ISDA). ISDA is not a sponsor of Practical Law and had no part in the development of this Update.