Integrated system will reduce contract creation time by 50%
Placing Platform Limited (PPL) has launched a new edition of its digital contract, engineered by Artificial, marking the point at which digital contracts are now fully integrated into PPL’s placing platform. The system is expected to deliver a 50% reduction in contract creation time, and a 75% reduction in time to transpose contracts to MRCv3 standard, based on the results achieved by Artificial’s stand-alone version of the system.
PPL’s digital contract capability is built around 5 key features:
- Digital Contract template management: Template managers can create, edit, and manage contracts more efficiently through parent and child linkage, with increased template change and usage controls.
- Single sign on and fully aligned access rights: Only one system to log into and no additional overhead in managing user access to digital contracts.
- Structured data contracts with full alignment to market standards: Resulting in no requirements to tag data, providing brokers with a substantial increase in the available data for use or sharing with market participants or across internal processes.
- One fully integrated product: Providing a single source of the truth, eliminating duplication and manual effort. By removing the need to re-key data across systems and documents, brokers can reduce administrative overheads and focus on more value generating tasks.
- Pre-submission validation and data synchronisation: Improving contract accuracy and reducing the potential for E&O risks, with any issues able to be caught earlier in the process
Tanya Duckworth, Chief Product Officer, Placing Platform Limited, said:
“The move towards data-first trading continues to gain momentum, and brokers using PPL’s contract builder now have access to a more connected, seamless experience. The integration of digital contracts makes the process of creating, validating, and sharing compliant MRCs even faster, and more consistent without disrupting workflows.”
ENDS
Media contact
Callum Starling | Omnia Partners
Callum.Starling@weareomniapartners.com | 07833 072883