Securities finance industry news | Financial agreements digitisation could save industry up to $1.2bn, survey finds


An independent market study has emphasised the cost saving benefits of agreement digitisation in financial markets.

The study, the findings of which were released today in a white paper — Are you invested in agreement digitization? An industry view of the cost and value of connecting documents with data? — was commissioned by Acadia and LIKEZERO.

Acadia is a provider of integrated risk management services for the derivatives community and LIKEZERO produces contract risk management and data capture software.

Although the financial industry is starting to embrace digitisation, the report makes clear the swift adoption of agreements digitisation could reap potential industry savings of US$622 million to US$1.19 billion across existing agreements, and US$42 million year-on-year for new Credit Support Annex (CSA) agreements.

The study found digitising agreements saves between $1,100 to $2,100 per agreement or $126m YoY…

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