Novations

The primary benefit is the preservation of trade integrity. Unlike manual processes—which are prone to operational delays and inconsistent records—this workflow ensures that the transfer of rights and obligations between counterparties is standardised. It maintains a single, consistent trade state across all systems, ensuring that no data is lost or misaligned during the transition.

Novations require precise timing and communication between the transferor, transferee, and the remaining party. Our workflow replaces manual record updates with a unified approach. By automating the coordination between multiple systems, it removes the risk of “broken” trade states and ensures that the updated counterparty structure is reflected accurately across your entire infrastructure simultaneously.

Yes. One of the core values of our workflow is the maintenance of a complete and traceable audit trail. The system captures the full history of ownership changes and lifecycle events. This ensures that even after a counterparty transition, you have full transparency for reporting and audit purposes, showing exactly how the rights and obligations shifted from the original state.