“I am pleased to have been selected by the CFTC for the Subcommittee on Data Standardization,” stated Michael Will, President and Chief Product Officer of Innodata’s docGenix division. My ongoing exchange of ideas with representatives of the CFTC, SEC and OFR have underscored for me the timeliness of our investment in launching Innodata’s docGenix division and building the docGenix XML data model, a computer-readable algorithmic description of the legal agreements that govern derivatives trades. I am looking forward to sharing our work with my fellow committee members and the industry at large.”The docGenix XML data model was developed over the past several years and represents over 27,000 man-hours of development by finance lawyers and XML architects. It contains a standardized yet flexible reference model of the universe of legal and financial terms utilized in Master Agreements, Credit Support Agreements and other financial agreements and is capable of being transformed into a variety of different data formats that can interface with in-house applications (such as collateral and risk management systems) as well as third party systems (such as swap data repositories) and docGenix’s own product suite. In an interview reported by the Financial Times on June 26, Commissioner O’Malia told the Financial Times, “We are looking for fresh ideas, people who have experience sorting and managing data.” About Innodata’s docGenix Division docGenix is a services division of Innodata Isogen (NASDAQ: INOD). docGenix provides web-based applications that enable financial services firms to generate, negotiate, monitor and analyze the negotiated provisions of Master Agreements and Credit Support Agreements published by the International Swaps and Derivatives Association, Inc. (“ISDA”), as well as financial and legal documentation relating to repos, securities lending, prime brokerage, investment management and clearing. Using the docGenix product suite, firms can proactively manage risks embedded in these documents - such as ratings downgrade and Net Asset Value triggers - by performing deep portfolio analysis and stress tests. The docGenix applications also provide Web Services data feeds designed to interface with in-house applications (such as collateral and risk management systems) as well as third party systems (such as Swap Data Repositories).
The docGenix applications and data feeds are enabled by an XML data model that represents derivatives and other financial/legal documents as computer-readable algorithms. This XML data model was developed over the past several years and represents over 27,000 man-hours of development by finance lawyers and XML architects. It contains a standardized yet flexible reference model of the universe of legal and financial terms utilized in Master Agreements, Credit Support Agreements and other financial agreements.docGenix provides managed services, including digitization and analysis, to enable its clients to transform legal contracts through its XML Data Model efficiently and quickly, as well as consulting and technology services to integrate its Web Services data feeds with in-house risk management systems and to customize in-house systems. For more information, visit www.docgenix.com . About Innodata Isogen Innodata Isogen (NASDAQ: INOD) is a leading provider of publishing, digital content and related information technology (IT) services. We work as a product development partner to our clients, helping them meet their content creation and publishing challenges. We provide services that draw upon global resources, proven project management and highly engineered processes and tools. We also help our clients improve their internal business operations with process and systems engineering. Our clients include leading enterprises in information-intensive industries such as media, publishing and information services, high technology, manufacturing, aerospace, defense, law, government and intelligence. Recent honors include Global Services Media’s Global Services 100, EContent Magazine’s EContent 100, KMWorld Magazine’s 100 Companies That Matter in Knowledge Management, the International Association of Outsourcing Professionals’ (IAOP) Global Outsourcing Top 100, D&B India’s Leading ITeS and BPO Companies and the Black Book of Outsourcing’s Top List of Leading Outsourcing Providers to the Printing and Publishing Business. Headquartered in the New York metro area, Innodata Isogen has offices and operations in the United States, the United Kingdom, France, Israel, India, Sri Lanka, and the Philippines.
For more information, visit www.innodata-isogen.com .About the Commodity Futures Trading Commission (CFTC) Congress created the Commodity Futures Trading Commission (CFTC) in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The agency's mandate has been renewed and expanded several times since then, most recently by the Commodity Futures Modernization Act of 2000. The CFTC assures the economic utility of the futures markets by encouraging their competitiveness and efficiency, protecting market participants against fraud, manipulation, and abusive trading practices, and by ensuring the financial integrity of the clearing process. Through effective oversight, the CFTC enables the futures markets to serve the important function of providing a means for price discovery and offsetting price risk. For more information, visit www.cftc.gov . This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “project,” “head start,” "believe," "expect," “should,” "anticipate," "indicate," "point to," “forecast,” “likely” and other similar expressions generally identify forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on our current expectations, and are subject to a number of risks and uncertainties, including without limitation, the primarily at-will nature of the company's contracts with its customers and the ability of customers to reduce, delay or cancel projects, including projects that the company regards as recurring; continuing revenue concentration in a limited number of clients; continuing reliance on project-based work; inability to replace projects that are completed, cancelled or reduced; depressed market conditions; changes in external market factors; the ability and willingness of our customers and prospective customers to execute business plans which give rise to requirements for digital content and professional services in knowledge processing; difficulty in integrating and deriving synergies from acquisitions; potential undiscovered liabilities of companies that we acquire; changes in our business or growth strategy; the emergence of new or growing competitors; various other competitive and technological factors; and other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this release will occur. 1 http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2011-10556a.pdf 2 http://www.cftc.gov/PressRoom/PressReleases/pr6056-11.html