The main task of the project was to analyse EGUS that allows brokers, traders and customers to electronically execute the FIA uniform ‘Give-up Agreements’ and the FIA-ISDA Cleared Derivatives Execution Agreement. EGUS also provides a standard electronic rate template, which can be modified by firms to their specifications and attached to agreements within the system. This allows EGUS firms to have access to the electronic storage facility to maintain all fully executed agreements. The Vantage Point team were contacting firms directly each week to understand their needs as well as providing them feedback of the progress made. Moreover, the consultants performed research on various markets and the numerous currencies that these ‘Give-up Agreements’ were being traded in.
Our Vantage Point team of consultants also used Perceptiv which provides a unique service to investment banks, and the buy-side, for data extraction and analysis of terms held in ISDA and other derivative agreements. Perceptiv Derivatives Contract Analysis connects traders to complete and trusted OTC agreement data so they can make the right decisions to optimise profit and mitigate risk. The team reviewed different types of documents and researched various terminologies allowing them to understand each document.
At the end of each project the team re-verified all completed work to obtain a high accuracy rate, which was the foremost priority of the client. The main focus being the accuracy of automated extraction and the quality of consumable data, as this automated extraction service allows the client to maintain their agreements as the ‘Golden Source’ and also provide trusted data to downstream systems.