SIFMA and Arteria AI announced a partnership to provide all US Treasury clearing participants a data-driven documentation platform to streamline and scale the onboarding, legal compliance, and operational systems integration with “respect to the mandated central clearing of US Treasury securities repurchase transactions, as required by new rules” out of the Securities and Exchange Commission (SEC).
Kenneth E. Bentsen, Jr., SIFMA president and CEO said:
“Since the finalization of the rule in December 2023, SIFMA has been working with our members, both buy side and sell side, and key infrastructure providers to develop voluntary standardized documentation, a considerations report, accounting clarity, and legal enforceability opinions to facilitate the transition to mandated central clearing. Our partnership with Arteria AI, and this new platform, represents an important efficiency and provides a crucial resource as the industry works toward compliance.”
The SIFMA Arteria AI Treasury Clearing Solution starts with “translating the voluntary standard documentation” into a data driven exercise to:
- Assist market participants in leveraging the documentation’s built-in optionality to address and accommodate individualized negotiations and terms.
- Streamline and scale negotiations and enable the tracking of terms across stakeholders.
- Operationalize the content to drive client onboarding, record critical client details, and provide a platinum data source for margin management and other systems.
- Optimize legal, accounting, and compliance both with respect to key business terms and enforceability consistent with legal opinions and other guidance being sourced by SIFMA.
The compliance dates for the relevant SEC rules “are Dec. 31, 2026, for eligible cash market transactions, and June 30, 2027, for eligible repo market transactions.”
SIFMA is the trade association for “broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets.”
On behalf of the industry’s employees, they advocate on “legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services.”
They serve as an industry coordinating body “to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency.”
They also provide a forum “for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).”
Powered by data, Arteria AI is said to be “trusted by the banks to transform critical document processes at enterprise scale – working smarter and faster to maximize revenue and save time and cost.”
Arteria AI‘s documentation solution removes the “need for legacy manual processes by structuring data at the onset of the documentation lifecycle.”
The platform then surfaces data and insights through “intelligent workflow tools to speed up decision-making processes for all stakeholders with a highly intuitive front-end.”
Built by subject matter experts, data scientists and technologists, Arteria AI’s solution leverages the power of data in order to “help global, regulated financial institutions solve client document complexity at scale.”
Adopting a data-first approach, this “AI-powered enterprise-ready solution takes the friction out of the paper trail.”