Open Source in Finance Forum New York 2024

Demonstration of CLM from contract negotiation to execution, storage and use with transactions using industry standard data models. The use case explored is negotiation of CSAs then used to implement eligible collateral schedules digitally

As its adoption increases, CDM will become central to the opportunity for Capital Markets to use standards to drive operating efficiency. It is no surprise that the result of shared common data and event modeling will reduce complexity whether in terms of operations or technology support. Our session explores how to realize these efficiencies with a proposed microservices based reference architecture that leverages the standard internally and externally and aligns with modern database technology. The result will be a new collaborative distributed processing model. In addition, since firms are likely to utilize their own proprietary data models for specific use cases, a critical component of this architecture is the ability to transform back and forth between those internal models and the standard. To facilitate navigating and aligning to those internal models, we leverage an LLM trained in CDM to simplify the identification of relevant data elements and support their bi-directional mappings. The key intent is to use the LLM to understand the structure of CDM vs internal models and, thereby, create mappings either directly or by generating code and assisting software engineers.