Legal contract data: The new reference data challenge for financial firms

Akber Datoo
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Akber Datoo: Founder and CEO and Managing Director, D2 Legal Technology, UK

Journal of Securities Operations & Custody, 2015, vol. 7, issue 3, 253-259

Abstract: Financial firms are waking up to the importance of effectively managing legal contract data. Potential benefits of doing so are numerous: avoidance of regulatory sanctions and associated reputational damage; improved risk management and associated profit and loss (P&L) gains from the increased capture of embedded value; a holistic working culture where trading, risk, legal, IT and other departments are able to communicate in a more productive fashion than has often been the case historically. But there are numerous challenges to extracting legal contract data. This paper will look at some of these within the context of derivatives: legal architecture, complexity of drafting, speed of regulatory change and organisational inertia.

Keywords: documentation; derivatives; collateral; regulation; reference data; legal (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2015
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