The Electronic Give-Up System (EGUS) allows brokers, traders and customers to electronically execute the FIA uniform give-up agreements and the FIA-ISDA Cleared Derivatives Execution agreement. EGUS also provides a standard electronic rate template which can be modified by firms to their specifications and attached to agreements within the system. Furthermore, EGUS firms have access to the electronic storage facility to maintain all fully executed agreements.
EGUS decreased the time to execute an agreement from approximately 39 days to 1 day. As the needs of the global financial industry have evolved, so has the functionality of EGUS. FIA Tech established a Rate Data Feed to allow EGUS agreement data to flow into downstream billing systems such as eGAINS and GPS. The new Fast Path workflow creates a more streamlined and efficient process for handling amendments to rate schedules.
As part of our commitment to increasing efficiency within the industry, FIA Tech continues to work with firms to expand the functionality of EGUS.
For additional information on EGUS, please read our Overview Brochure.