Electronic Settlement Matching Standardization

In 2009, LEAP members, lead by representatives from Goldman Sachs and BP, created a white paper called Trade Settlement Automation:  Business Requirements, which laid out the committee’s vision for a settlement automation solution for the financial and physical commodity trading industry.  At the time, it was the first cross-company attempt at creating such a document, with the hopes that a vendor or a series of vendors would take up the challenge to offer a service to the industry using those requirements as a basis for design.

This LEAP Trade Settlement Automation:  Business Requirements white paper became one of the foundations for a more wide-ranging International Swaps and Derivatives Association, Inc. (‘ISDA’) document entitled Commodities Trade Processing Lifecycle Events White Paper.  This document fulfilled a commitment made by the Commodities Major Dealers group within ISDA to various named regulators in the United States and Europe.  LEAP worked with ISDA in the creation of this document, which is in review by ISDA for revisions in 2012.  Please check the ISDA.org website for updates on this important document.

Although the Electronic Settlement Matching Standardization Committee is now dormant, please contact to address any questions and make suggestions in the area of electronic settlements automation or standardization.