This project addresses one of the most time-consuming tasks in the Nordic debt market: identifying and interpreting covenant clauses within complex Bond Agreements – and turns it into a fast, reliable data feed.
About the client
Nordic Trustee is the leading provider of bond services in the Nordics. Based on more than 25 years of experience and proprietary IT solutions, the company provides an efficient platform for seamless access to the Nordic financial markets. Its services include corporate actions, reference and market data services, along with the most complete bond database in the Nordics.
The challenge
One persistent challenge for investors, agents, legal teams and credit teams has been covenant data. Covenants – the clauses in Bond Agreements that define what an issuer can and cannot do – are critical for assessing risk and comparing instruments. Historically, however, they have been embedded in Bond Agreements that often run to more than 50 pages of dense legal text, written in inconsistent language and requiring hours of manual review to identify, extract and compare. Documents were fragmented, and there was no simple way to compare two bonds side by side.
The solution
Stamdata AI changes that. Built in partnership with Jit Team, the solution automatically extracts covenant clauses from Bond Agreements and presents them in a clean, structured and standardised format – ready to use. Before Stamdata AI, locating a specific covenant inside a Bond Agreement and normalising it for comparison meant working through the document clause by clause. Now, the same information is surfaced automatically and grouped consistently, allowing users to move from ,,where is this term?” to ,,how does this term compare across the market?” in seconds.
Cooperation summary
– The most satisfying part is that the solution is genuinely used – and visibly trusted – by the people it was built for. We have combined market expertise, modern AI techniques and a responsible approach to extraction quality to solve a pain point the industry has lived with for years. And we keep iterating: every piece of user feedback helps improve the model further
– says Oskar Maksymiuk, Architect at Jit Team leading the project.
– We value Jit Team because they understand our business, adapt quickly to our needs and propose ideas that improve our products. Stamdata AI is a meaningful step in our vision of making the Nordic debt market more transparent, data-driven and efficient.
– says Aleksander Nervik, EVP of Digital Products & Development at Nordic Trustee.
Jit Team has been supporting Nordic Trustee in various technology-related projects since 2019.
– It has been a great cooperation since the beginning. Nordic Trustee has a strong focus on innovation and digitalisation. They want to make the most of what technology has to offer, and AI is not new to them. They want to work smarter, not harder, and Jit Team has been supporting them in this quest.
– says Łukasz Drzewiecki, Chief Delivery Officer at Jit Team.
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