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IBOR Transition: Implementation

Managing legacy IBOR transactions


We are experienced in transition implementation and the practical considerations of delivering complex and time-sensitive projects. We have developed an approach to helping clients on their legacy IBOR transition journey which is aligned to and anticipates an individual institution’s or corporate’s needs, blending world class technical product expertise with litigation and regulatory risk management capabilities. Our model considers supporting clients from the beginning of their transition journey in identifying materials with IBOR exposures to working our clients through each stage of the transition process (see below). Our offering is also modular, at any stage we can provide adapted solutions for any part of your workflow. We will partner with you and your transition team to deliver project managed and quality controlled results.

Our implementation team is led by Alternative Legal Services (ALT) which is one of six global practice groups within Herbert Smith Freehills and is an integral and fully-integrated part of our offering. The ALT team is made up of skilled lawyers, analysts and technologists utilising leading edge processes and technology. ALT is an insourced team which competes against stand-alone alternative legal service offerings which focus on technology services and lower-cost, process managed review work.

Experienced People 

  • IBOR transition will need effective information management to understand your exposures to prioritise and strategise your approach.
  • As with all document-intensive projects and technology-led solutions, the key component will be the people who are dedicated to the task.
  • Our ALT team have experience in managing complex legal projects and processes, that harness multiple documents in various stages of a lifecycle.
  • They are a 350 strong global team located across our offices in the UK, US, China, South Africa and Australia, which can flex to provide resourcing on a global scale.

Solution Design 

  • The ALT team is deliberately integrated into our proposed Strategic Team for IBOR transition projects.
  • We have invested considerable time in forecasting the requirements of an IBOR transition project.
  • Our global ALT team has developed a solution in tandem with our Finance, Corporate and Disputes practice IBOR specialists, involving process management, technology design and workflows for IBOR transition.
  • This detailed planning on IBOR transition solutions for each phase of the project workflow means we are prepared to deliver your project requirements and flex our process to suit your needs.

Leveraging technology 

  • ALT have experience in leveraging AI and technology tools to locate and mine documents.
  • We use our experience in large eDiscovery exercises and transition projects to deliver technology-based solutions to locate IBOR related materials, to identify clauses and manage the stages of review, repapering of new contracts, negotiation and execution.
  • Our point of difference is the use of an underlying database to manage each stage of the transition process so we can tackle different categories of transition as required. This database provides a holistic approach to your transition project and enables real-time reporting on progress and issues.
  • This management of data through transition can be leveraged at the end of the project as an ongoing source of key contract information to enhance your internal document management needs.

Insights and updates

In IBOR Transition: Implementation
21st January 2021
The end of 2021 has been the date set in stone for the discontinuation of...
26th October 2020
Our briefing provides a detailed analysis of the recently released ISDA publications, including the issues...
15th October 2020
The cessation of the London Inter-bank Offered Rate ( LIBOR ) at the end of...

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IBOR transition

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