TMCnet News
Smart Contracts Platform Company Adjoint Joins ISDAAdjoint, developer of a smart contracts platform and distributed ledger technology for the financial services industry, announced today that it has joined International Swaps and Derivatives Association (ISDA). Adjoint will contribute to the working groups on Distributed Ledger Technology and Smart Contracts. Adjoint's powerful asset modeling language allows financial domain experts to compose smart contracts that accurately represent sophisticated financial transactions on the distributed ledger. Using Adjoint's solutions, financial firms can control the entire derivatives life-cycle through automated smart contracts - from trade structuring, capture, confirmations, collateral, settlement and regulatory reporting. Such smart contracts provide higher level of risk management, compliance and operational efficiency in the process. Somil Goyal, Adjoint's COO said, "We are pleased to be a member of ISDA, and its work on data and standards will help move the industry forward. ISDA master agreements and FpML are already available as market-wide standards, and it is the right time for the industry to extend and modernise these into smart contracts on distributed ledger technology. This will bring massive operational benefits to the industry." ISDA's Clive Ansell said, "ISDA is working with its membership to deliver greater efficiency and automation to dervatives markets, and we are happy to welcome firms like Adjoint to contribute to this objective." About ISDA Since 1985, the International Swaps and Derivatives Association has worked to make the global derivatives markets safer and more efficient. ISDA's pioneering work in developing the ISDA Master Agreement and a wide range of related documentation materials, and in ensuring the enforceability of their netting and collateral provisions, has helped to significantly reduce credit and legal risk. The Association has been a leader in promoting sound risk management practices and processes, and engages constructively with policymakers and legislators around the world to advance the understanding and treatment of derivatives as a risk management tool. Today, ISDA has more than 875 member institutions from 68 countries. http://www2.isda.org About Adjoint Adjoint offers a smart contract platform and distributed ledger solutions designed to improve efficiency, security, and compliance in modern finance. Its revolutionary messaging and consensus protocol - based on the latest research in cryptography, type systems and formal verification - allows enterprises to quickly deploy, maintain, verify and execute smart contracts globally. Such technology helps enterprises reduce costs, mitigate risks and improve margins. Founded in 2016, the company has offices in Boston, MA and London, UK. For more information, please visit www.adjoint.io or https://twitter.com/adjoint_io. View source version on businesswire.com: http://www.businesswire.com/news/home/20171010005550/en/ |
