Mayer Brown today announced that, under a strategic arrangement with Scissero, it will offer clients an integrated issuance solution for structured products, combining document automation, document verification and the firm’s legal opinions. The initiative brings together Mayer Brown’s market-leading structured products practice and Scissero’s AI-powered workflow and verification services. The arrangement enables Mayer Brown to offer clients a streamlined straight-throughprocessing (STP) approach to structured products issuance.
Under the arrangement, a client’s documents are set up on an issuer’s chosen document automation platform. Scissero’s AI-powered legal workflow platform and document verification services then support Mayer Brown’s opinion process by validating that the documentation generated through the client’s document automation platform corresponds to the approved document templates and pre-approved trade parameters. This innovative, AI-powered approach, with appropriate human oversight, allows clients to realize significant efficiencies in the issuance process, enabling them to issue products with lower notional amounts and tailor offerings more effectively to individual distribution channels. While initially focused on U.S. SEC-registered products, the initiative also has applications for exempt as well as European offerings, structured UITs and defined outcome products.
The arrangement brings together complementary capabilities. Scissero provides an AI-powered legal workflow platform alongside document verification services designed to support Mayer Brown’s opinion process by validating the integrity and consistency of the documentation generated through the client’s document automation platform. Mayer Brown provides the legal services associated with the issuance of the structured product, including the rendering of the relevant legal opinions.
“We’re pleased to launch this initiative, which we’re confident will benefit financial institutions, and realize many of the benefits of AI in an area in which the firm has a leading practice and has been known as an innovator,” said Mayer Brown’s Chair, Jon Van Gorp. Mathias Strasser, Scissero’s CEO, added: “Our expertise in structured products, AI and automation enables a genuinely differentiated solution that bridges the gap between document automation and Mayer Brown’s legal review and opinion process. We’re delighted to be working with Mayer Brown to bring that vision to market.”
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