Droit founder Brock Arnason speaking on 1LOD stream executive panel Debating the challenges of evidencing pre-trade decision making and the related risks Droit Adept digitises and operationalises global regulation
16th November 2020, London and New York. Droit, the enterprise technology firm at the forefront of computational law and creators of the Adept platform, is proud to be sponsoring the first XLoD Global conference. This exciting, new digital event is taking place between 17th – 19th November 2020 and will be exploring the key issues relating to first line control, surveillance, audit, financial crime and buy-side control. It brings together practitioners and regulators from EMEA, APAC and North America to share best practice and discuss the future of control functions across the 3 LOD.
On Thursday 19th November at 11.15 GMT, Brock Arnason, Founder of Droit will be speaking on the 1LOD panel stream, discussing amongst other related issues; how banks can evidence pre-trade decision making and which pre-trade risks represent the biggest challenges. Brock is joining executives from leading financial firms, such as RBC, Daiwa Capital Markets, HSBC and DZ Bank.
Droit’s Adept platform is already in use by a growing number of the world’s leading financial firms to transform complex decision making into a simple, intelligent, repeatable, and fully automated process. The solution monitors hundreds of sources of regulation and related market microstructure changes, providing cross-asset, real-time, automated enforcement of regulatory mandates within mission-critical trading systems, both pre-execution and post-execution.
Brock Arnason, Droit founder commented. “The team is delighted to be part of this ground-breaking event, helping to drive the agenda on some of today’s business-critical compliance issues. The pre-trade arena is a particular focus for us and is an area we believe to be poorly served by traditional technology and third-party service providers. The lack of standardized, transparent, consensus-driven regulatory decision-making has resulted in unnecessary errors, costly delays and potentially highly damaging bottlenecks to transactional flow. Our platform has been designed to support these specific needs by automatically producing a complete audit record for each transactional inquiry, providing transparency and traceability to digitized representations of the law. This approach enables simplified visual inspection by precisely showing which controls were applied to every transaction at the point of evaluation and evidencing why those controls were necessary.”
Adept digitises all texts, including legal, regulatory, and internal policy, using the OASIS-standard Akoma-Ntoso (AKN) format, and implements domain-specific structured data models to represent the decision logic implied by those texts. The system achieves flexibility and high performance through the use of sophisticated compilers and evaluation engines, with unparalleled transparency to visual representations of the logic. Logical models and digitised texts are maintained by Droit and provided to clients as structured data, ensuring each client is kept current with an evolving industry consensus view of regulation.
Brock concluded. “We believe Adept is ideally positioned to become the Operating System for
Regulation. It streamlines and simplifies the complex needs of our users by continually evaluating the regulatory obligations and executional permissibility of financial transactions throughout their entire lifecycle, from pre-origination to post life-cycle events. The continued dependency on front office personnel to individually digest, interpret and enforce complex regulations is untenable and must stop. The timing and agenda of this new event is closely aligned to our thinking and reinforces our belief that to ensure business continuity, all financial firms urgently need to change the way they operate by adopting new technologies and transforming legacy working practices. The industry is ripe for change and we are confident this event will help lead the way towards a more ethical and responsible future.”
To view full agenda and listen to the panel debate register here. Contact us for client discount code on registration.