Droit Launches First Multi-jurisdictional Online Library of Digitised Laws in Open-source OASIS Standard

NEW YORK and LONDON, Oct. 21, 2019 /PRNewswire/ --

• Legal texts converted to machine-readable open standard, Akoma-Ntoso*
• Global derivatives and securities regulations available in Akoma-Ntoso standard
• US Code of Federal Regulations (CFR), US Code (USC), Legal Acts of the European Union, Swiss Federal Laws, available for the first time in Akoma-Ntoso standard      

Droit, the New York, London and Zurich based technology leader in computational law and real-time intelligent decision engines, announces the launch of the first multi-jurisdictional online library of digitised legal texts in the open source OASIS standard, Akoma-Ntoso.

The launch of law.droit.tech provides the broad legal, consulting and regulatory community the foundations of the ability to systematically interact, collaborate, compare, contrast, tag and annotate legal texts in digital format in a structured data-driven manner. The process of drafting, reviewing, analysing and maintaining legislative content now has the data infrastructure necessary for sophisticated collaboration and analysis tools.

The first release of law.droit.tech supports key securities and derivatives laws and regulations from the CFR (US Code of Federal Regulations), the USC (US Code), the Legal Acts of the European Union and the entirety of the Federal Laws of Switzerland. The library maintains all the versions of relevant documents published by the regulators, horizon scanning for changes and updating as necessary. 

Collaboration with governmental agencies, universities, banks and lawyers has greatly informed the first release of this global regulatory library.

Robert Pickel, former CEO of ISDA, non-executive director of Droit, said, "Digitised regulatory texts will change the entire workflow around the drafting and analysis of legal content. They will be essential to the implementation of regulatory frameworks across industries. Droit's global regulatory library provides the community with the digital raw materials necessary for any systematic analysis and collaboration."

Highlighting that this library is an extension of Droit's current product offering to a broader user base, Satya Pemmaraju, CEO of Droit, commented, "As part of our regulatory decision engines, Droit has provided digitised regulatory texts governing derivatives and securities transactions to our financial institution clients for a number of years. The broader regulatory community will benefit from access to these digitised texts supported by a solid technology and data infrastructure driven by open standards." 

Over the coming months, law.droit.tech will be enhanced with annotation and collaboration tools to facilitate a full digital, machine-readable workflow around drafting, commenting and analysing legal texts.

The library can be accessed for a trial period by emailing [email protected], or requesting access at law.droit.tech.

*Akoma Ntoso ("linked hearts" in Akan language of West Africa) defines a set of simple, technology-neutral electronic representations of parliamentary, legislative and judiciary documents for e-services in a worldwide context and provides an enabling framework for the effective exchange of "machine-readable" parliamentary, legislative and judiciary documents such as legislation, debate record, minutes, judgements, etc. Retrieved from http://www.akomantoso.org/?page_id=25.

ABOUT DROIT

Droit is a technology firm at the forefront of computational law across finance and other domains. Droit's award-winning ADEPT platform is used by many of the world's largest financial institutions to apply global regulations in real-time to transactions, enforcing point-of-inquiry compliance in trading and operational systems.

Droit has offices in New York City, London and Zurich. For more visit www.droit.tech. To schedule a demo or obtain more information about Droit's products, please contact [email protected].

SOURCE Droit