The market is getting more aware of [settlement] technology and that it is a step forward, there is more willingness by market participants to spend money.

Bhavik Katira

Categorized in : Money

If you can automatically process these events and then reduce manual labor there will be cleaner data then there is today because it's not being transmitted by fax, it's clear, it's structured and everyone has the same view. It will also lead to a lot of cost savings.

This is just the tip of the iceberg, we haven't even thought about the primary market, the syndication process or two-way communication between agent and lenders, like voting, so that's a whole other part of the process we haven't looked at.