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Smart Communications and IHS Markit launch ISDA 2016 Credit Support Annex for Variation Margin

First Published 27th October 2016

New functionality supports regulatory margin requirements for non-cleared derivatives.

London and New York - SmartDX from Smart Communications, the industry standard for trade and relationship documentation, and IHS Markit, the information, analytics and solutions provider, have announced the launch of new functionality for the ISDA 2016 Credit Support Annex (CSA) for Variation Margin (VM).

The integration of SmartDX into IHS Markit's Counterparty Manager automates the production, exchange, negotiation and execution of the new ISDA 2016 Variation Margin CSAs, ISDA Master Agreements and Master Confirmation Agreements amongst other document types.

Through the service, SmartDX maintains a machine readable, controllable and audited copy of the document throughout the negotiation process. Documentation is stored alongside an accurate record of the data. This includes a complete audit trail of how the document was composed, negotiated and executed. Underlying data can then be consumed and actioned via an API to downstream systems.

ISDA Amend enables market participants to address noncleared margin rules with the Self Disclosure and Variation Margin Protocol. SmartDX serves as a solution for managing bilateral amendments.