Systems and methods for facilitating agreement definition via an agreement modeling system

Abstract

Systems and methods are provided for facilitating definition of an agreement between a party and a counter-party via an agreement modeling system. According to some embodiments, an agreement type is automatically determined based on a covered products matrix and a plurality of product types associated with an agreement (e.g., financial products associated with a transaction agreement). In addition, an agreement term may be determined in accordance with the agreement type. According to other embodiments, an indication of an agreement term is stored in association with an indication of a term date such that an applicability of the agreement term can be automatically determined based at least in part on the term date. In still other embodiments, a value associated with an agreement term is stored along with an indication of a right associated with the agreement term (e.g., via an XML data format).

What is claimed is:  
     
         1 . A method for facilitating definition of a transaction agreement associated with a plurality of product types, comprising: 
 automatically determining an agreement type based on the plurality of product types and a covered products matrix; and    determining, in accordance with the agreement type, an agreement term between a party and a counter-party.    
     
     
         2 . The method of  claim 1 , wherein the covered products matrix is associated with at least one of: (i) a plurality of covered product types, and (ii) a plurality of transaction instruments.  
     
     
         3 . The method of  claim 2 , wherein at least one covered product type comprises: (i) an equity product, (ii) a stock product, (iii) an index product, (iv) a fixed income product, (v) a bond product, (vi) a bank loan product, (vii) a whole loan product, (viii) an interest rate product, (ix) a credit derivative product, (x) a commodity product, (xi) a metal product, (xii) a energy product, and (xiii) an agriculture product.  
     
     
         4 . The method of  claim 2 , wherein at least one transaction instrument comprises: (i) a swap instrument, (ii) an option instrument, (iii) a buy instrument, (iv) a sell instrument, (v) a call instrument, (vi) a put instrument, (vii) a forward instrument, (viii) a pre-paid forward instrument, (ix) a spot instrument, (x) a repurchase agreement instrument, (xi) a loan instrument, (xii) a warrant instrument, and (xiii) a contract for differences instrument.  
     
     
         5 . The method of  claim 2 , wherein the covered products matrix further includes at least one of: (i) an indication of approval, (ii) an indication of disapproval, (iii) an indication of a pending status, (iv) compliance authorization information, (v) default information, (vi) party information, (vii) counter-party information, (viii) legal information, (ix) master agreement information, and (x) credit information.  
     
     
         6 . The method of  claim 1 , wherein the transaction agreement is associated with at least one of: (i) a set of rights between the party and the counter-party, and (ii) a legal contract.  
     
     
         7 . The method of  claim 1 , wherein the agreement type is associated with at least one of: (i) a set of rights between the party and the counter-party, (ii) a legal contract, (iii) a product type, (iv) a monetary amount, (v) a transaction instrument, (vi) the party, and (vii) the counter-party.  
     
     
         8 . The method of  claim 1 , wherein the agreement term is associated with at least one of: (i) a set of rights between the party and the counter-party, (ii) a legal contract, (iii) a product type, (iv) a monetary amount, (v) a transaction instrument, (vi) the party, and (vii) the counter-party.  
     
     
         9 . The method of  claim 1 , wherein said determining an agreement type comprises: 
 determining a general document type; and    determining a refinement to the general document type.    
     
     
         10 . The method of  claim 1 , wherein said automatically determining the agreement term comprises: 
 defining the agreement term based on a pre-stored default transaction term.    
     
     
         11 . The method of  claim 1 , wherein said automatically determining the agreement term comprises: 
 defining the agreement term based on information received from a user of an agreement modeling system.    
     
     
         12 . The method of  claim 1 , wherein said automatically determining the agreement term comprises: 
 defining the agreement term based on information received from a satellite system.    
     
     
         13 . The method of  claim 1 , wherein the satellite system comprises at least one of: (i) a business system, (ii) a legal system, (iii) a compliance system, (iv) a credit system, (v) a treasury system, and (vi) an operations system.  
     
     
         14 . The method of  claim 1 , wherein said automatically determining the agreement term comprises: 
 defining the agreement term based via a legacy agreement system.    
     
     
         15 . The method of  claim 1 , wherein said automatically determining the agreement term comprises: 
 automatically determining the agreement term based on the plurality of product types.    
     
     
         16 . A method for facilitating definition of a transaction agreement, comprising: 
 determining an agreement type;    determining an agreement term; and    generating an indication based on an evaluation of the agreement type and the agreement term.    
     
     
         17 . The method of  claim 16 , wherein the transaction agreement is associated with a plurality of financial product types, and further comprising: 
 evaluating the agreement type and the agreement term based on the plurality of financial product types and a covered financial products matrix.    
     
     
         18 . The method of  claim 16 , wherein the indication is provided to at least one of: (i) a user of an agreement modeling system, and (ii) a satellite system.  
     
     
         19 . A method for facilitating definition of a contract, comprising: 
 determining a contract type; and    determining, in accordance with the contract type, a contract term between a party and a counter-party.    
     
     
         20 . The method of  claim 19 , wherein the contract is associated with at least one financial product type, and at least one of the contract type and the contract term are automatically determined based at least in part on the financial product type.  
     
     
         21 . The method of  claim 19 , wherein said determining a contract type comprises: 
 providing to the user a list of potential contract groups;    receiving from the user an indication of a selected contract group;    based on the selected contract group, providing to the user a list of potential contract types; and    receiving from the user an indication of a selected contract type.    
     
     
         22 . The method of  claim 19 , wherein said determining the contract term is performed via at least one of: (i) an agreement rule, (ii) a document rule, (iii) a fact set rule, and (iv) a fact rule.  
     
     
         23 . The method of  claim 19 , wherein said determining the contract term is performed via an automated contract interface.  
     
     
         24 . A method for facilitating agreement definition, comprising: 
 determining an agreement term;    determining a term date associated with the agreement term; and    storing an indication of the agreement term in association with an indication of the term date, wherein an applicability of the agreement term can be automatically determined based at least in part on the term date.    
     
     
         25 . The method of  claim 24 , wherein the term date comprises at least one of: (i) a term effective date, (ii) a term expiration date, (iii) a term period, and (iv) a term entry date.  
     
     
         26 . The method of  claim 24 , wherein the applicability of the agreement term can be automatically determined based further on at least one of: (i) a current date, (ii) a term entry date, and (iii) a query date.  
     
     
         27 . The method of  claim 24 , further comprising: 
 storing, in association with the agreement term, an indication of at least one supporting agreement document.    
     
     
         28 . A method for facilitating definition of an agreement between a party and a counter-party, the party including a first party entity and a second party entity, comprising: 
 determining a first agreement term via the first party entity; and    based at least in part on the first agreement term, determining a second agreement term via the second party entity.    
     
     
         29 . The method of  claim 28 , wherein at least one of the first party entity and the second party entity comprises: (i) a business system, (ii) a legal system, (iii) a compliance system, (iv) a credit system, (v) a treasury system, and (vi) an operations system.  
     
     
         30 . A method for facilitating agreement definition, comprising: 
 determining an agreement term; and    storing a value associated with the agreement term along with an indication of a right associated with the agreement term.    
     
     
         31 . The method of  claim 30 , wherein said storing is performed via an extensible agreement modeling system language.  
     
     
         32 . A computer-implemented method for facilitating definition of a transaction agreement between a party and a counter-party, comprising: 
 creating at least one agreement document template associated with a transaction agreement type;    determining a plurality of agreement facts, at least one of the agreement facts being associated with at least one of the party and the counter-party; and    defining an agreement document instance associated with the transaction agreement, the agreement document instance being based on the agreement document template and the plurality of agreement facts.    
     
     
         33 . The method of  claim 32 , wherein the agreement document template includes a plurality of agreement fact sets, each agreement fact set comprising a number of agreement facts.  
     
     
         34 . The method of  claim 32 , wherein a plurality of agreement document templates are associated with the transaction agreement type.  
     
     
         35 . The method of  claim 32 , wherein a plurality of agreement document instances are defined in association with the transaction agreement.  
     
     
         36 . The method of  claim 32 , wherein an agreement fact is associated with a plurality of at least one of: (i) agreement document instances, and (ii) transaction agreement types.  
     
     
         37 . The method of  claim 32 , wherein the transaction agreement is associated with at least one of: (i) a risk management transaction, (ii) an over the counter product, (iii) an equity derivative, (iv) a commodity transaction, (v) an electricity transaction, (vi) a foreign exchange transaction, (vii) a currency option, (viii) a bond option, (ix) a synthetic agreement for forward exchange, (x) a reciprocal purchase agreement, (xi) an interest rate swap, (xii) an interest rate cap, (xiii) an interest rate collar, (xiv) an interest rate floor, (xv) a forward rate agreement, (xvi) a forward rate bill agreement, and (xvii) an option to enter into an underlying interest rate swap transaction.  
     
     
         38 . The method of  claim 32 , wherein the transaction agreement comprises at least one of: (i) an INTERNATIONAL SWAP DEALERS ASSOCIATION® agreement, (ii) a foreign exchange & options master agreement, (iii) an agreement associated with one or more currencies, and (iv) an agreement associated with one or more jurisdictions.  
     
     
         39 . The method of  claim 32 , wherein the transaction agreement includes at least one of: (i) date information, (ii) agreement interpretation information, (iii) obligation information, (iv) representation information, (v) sub-agreement information, (vi) default event information, (vii) termination event information, (viii) transfer information, (ix) expenses information, (x) notice information, (xi) governing law information, (xii) definition information, a master agreement, (xiii) a schedule to a master agreement, and (xiv) at least one addenda to a master agreement.  
     
     
         40 . The method of  claim 32 , wherein at least one agreement fact comprises at least one of: (i) a party identifier, (ii) a counter-party identifier, (iii) an agreement identifier, (iv) a name, (v) address information, (vi) contact information, (vii) an effective date, (viii) an expiration date, (ix) an area of origin, (x) an indication of governing law, (xi) an area of organization, (xii) a standard industrial classification code, (xiii) a functional business area, and (xiv) beneficial ownership information.  
     
     
         41 . The method of  claim 32 , wherein at least one agreement fact is associated with at least one of: (i) a data type, (ii) a data source, (iii) a security class, and (iv) an attribute.  
     
     
         42 . An apparatus for facilitating definition of a transaction agreement associated with a plurality of product types, comprising: 
 a processor; and    a storage device in communication with said processor and storing instructions adapted to be executed by said processor to: 
 automatically determine an agreement type based on the plurality of product types and a covered products matrix; and  
 determine, in accordance with the agreement type, an agreement term between a party and a counter-party.  
   
     
     
         43 . The apparatus of  claim 42 , wherein said storage device further stores an agreement information database.  
     
     
         44 . The apparatus of  claim 42 , further comprising: 
 a communication device coupled to said processor and adapted to communicate with at least one of: (i) a client device, (ii) an agreement modeling system controller, and (iii) a satellite system.    
     
     
         45 . A medium storing instructions adapted to be executed by a processor to perform a method of facilitating definition of a transaction agreement associated with a plurality of product types, said method comprising: 
 automatically determining an agreement type based on the plurality of product types and a covered products matrix; and    determining, in accordance with the agreement type, an agreement term between a party and a counter-party.