Entities trading distressed debt will no longer have to track down and send the upstream closing documents for every trade. The UpstreamBlock® will automatically keep track of every buy and sale of a distressed credit. Each entity’s legal staff will have instant access to the upstream documents for review. The purchase and sale agreement annex will automatically pull the upstream tree for each trade as it is required.
Additionally, this product facilitates the distressed bank debt clients to load and track upstream placeholder trades for the loan settlement industry. All related trade information and closing documents will be deployed to the HashLynx blockchain. Any approved participant will have the ability to reference the upstream trades based on the credit agreement facility being traded.
This product has two methods. First, standalone accessed via the UserBlock® Dashboard where the parties can pull the upstream tree data directly from the blockchain and supply the purchase and sale agreements with the Documented Annex of trades from the blockchain. The contract address will also be supplied to allow the client law firms to gain access to the dashboard to view the terms and conditions and trade closing documents directly from the blockchain avoiding the need to obtain manual upstream documents. Second, it is integrated dynamically within any electronic trading system to pull the same data from the blockchain by all users and counsel.