“LAECS gives firms the ability to analyze, abstract and categorize all forms of complex financial instruments and legal documentation ... to fully evaluate and measure risk exposure ahead of critical regulatory demands."
Washington, D.C. (PRWEB) November 13, 2013
Clutch Group, the leading legal, technology and process firm helping General Counsels more effectively manage problems within Fortune 500 companies, announced today an updated version of its Legal Agreement Extraction and Codification System (LAECS), a revolutionary documentation platform designed for financial services firms to manage risk across their business functions. A fully-managed service, LAECS extracts and codifies key reference data within all forms of legal and financial agreements, allowing financial services firms to easily access and make sense of their internal data and manage their risk across all business functions.
“Regulatory enforcement is more aggressive today than ever before and government investigations can be serious, disruptive, and alarming,” says JB Costilow, VP of Process Engineering & Product Development at Clutch Group. “LAECS gives firms the ability to analyze, abstract and categorize all forms of complex financial instruments and legal documentation affording our legal, compliance and business clientele with an opportunity to fully evaluate and measure risk exposure ahead of critical regulatory demands.”
While most firms have documentation systems in place, most lack the ability to capture agreements and other documents in sufficient detail and to easily categorize them for future recall and analysis. LAECS is being used by a number of global financial firms to facilitate remediation efforts around existing ISDA-related derivatives agreements and to fully understand their exposure across over-the-counter derivatives environments. It has also been used to analyze trades for collateral optimization, to more effectively manage pre-trade negotiations, and to improve overall productivity in legal and operations teams in increasingly complex regulatory environments.
“Technology alone is not the solution,” said Chris Cahn, Associate Director of Compliance at Clutch Group. “Companies need an integrated approach to successfully manage risk and data. To meet this need, Clutch offers LAECS as a fully-managed service, with a dedicated team of documentation experts leveraging the best data extraction and analytics technology available.”
About Clutch Group
Founded in 2005 by top attorneys from leading firms and business process pioneers, Clutch Group has grown to a team of legal, technology and process experts in five offices across three continents. Clutch was built from the ground up to help General Counsels more effectively manage problems within Fortune 500 companies. Clutch combines its expertise in harnessing technology, implementing process and focusing on fact development to deliver risk-measured, cost-optimized solutions for clients. Clutch Group has been consistently ranked as a top provider by industry research as well as client satisfaction since its inception and has been recognized by industry authorities including the New York Law Journal, Chambers Global, Frost & Sullivan, the Black Book of Outsourcing and Dun & Bradstreet. For more information, visit http://www.clutchgroup.com.