Source: IHS Markit
IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced its collaboration with OpenText, a global leader in Enterprise Information Management (EIM).
The result of the collaboration means OpenText Perceptiv Contract Analysis will enable customers to automatically digitize and extract key terms from documentation through Counterparty Manager from IHS Markit.
Tighter integration of IHS Markit and OpenText solutions will help customers address operational challenges around managing unstructured trading documentation, including Credit Support Annexes (CSAs) and ISDA master trading agreements. The combined solution utilizes a sophisticated data model to digitize, organize, and extract data for review, as well as analysis to help address compliance requirements for Uncleared Margin Rules—avoiding the laborious and error-prone process of manually deciphering and keying contractual data points.
“Working with IHS Markit allows us to provide global financial firms an even more compelling solution for large-scale contract analysis,” said Gary Weiss, general manager, Discovery at OpenText. “We look forward to further strengthening our business relationship, especially during this time when customers are actively seeking solutions to help meet increasingly timesensitive regulatory demands.”
“At IHS Markit, we are committed to offering our customers a streamlined service to digitize contractual terms more effectively and meet regulatory obligations,” said Darren Thomas, managing director and head of Counterparty Manager at IHS Markit. “Together with OpenText, we are solving the operational challenge of taking unstructured legacy documents and converting them into structured, machine-readable files. This allows our customers to analyze, negotiate, and track documentation digitally, as well as feed the underlying contract terms to downstream systems.”
IHS Markit Counterparty Manager’s document digitization offerings, working in conjunction with OpenText Perceptiv Contract Analysis, includes ISDA Amend and SmartDX contract collaboration tools. The holistic solutions set provides customers with a fully digitized service to efficiently manage, control, and negotiate legal agreements to help meet onboarding and regulatory compliance requirements.