“Automation technologies like smart contracts were the inevitable way forward for the derivatives industry to drastically control or cut costs and achieve operational efficiencies. There were several questions raised even as recent as last year about these innovations. Most prominent were the teething issues given their early stage of development, whether smart contracts could actually replace legal ones and even the legal definitions of smart contracts. Clearly the markets moved further ahead, and we are proud to have worked with ISLA in playing a foundational role. Regulatory frameworks and standards top the agenda now, something that we at Linklaters are well placed to lead and help industry bodies articulate for market participants.”

Deepak Sitlani, Partner

“We are delighted to have worked with ISLA on this white paper. There has been considerable focus in the financial markets on the possible use (and benefits of) contract negotiation technology, smart contracts and common domain models. This agenda for change builds on this to provide an innovative vision of the future operation of the securities lending market. ”

Richard Hay, UK Head of Fintech