Securities Lending Agreements
The Global Master Securities Lending Agreement (GMSLA) document may be used as a standard master agreement for securities lending transactions in the cross-border market. We supply a standard PDF copy for reference below but recommend companies obtain their own legal advice to ensure validity of the GMSLA for their specific circumstances.
Legal opinions which consider the enforceability of the netting provisions of the GMSLA, are available for a wide range of countries and common counterparty types.
Please see our web page on Netting opinions for further information on how to obtain these.
Global Master Securities Lending Agreement:
Securities Lending Guides
The guides are aimed at beneficial owners and are designed to highlight in straightforward terms the issues that should be considered.
Securities Lending Guides:
General Industry Documentation
The following documents cover some of the key aspects of working practice within the Securities Lending market.
If you are looking for guidance on the Global Master Repurchase Agreement (GMRA) and associated legal opinions, please go to the International Capital Market Association’s (ICMA) website.
General Industry Documentation:
From January 2017 to subscribe to the ISLA Netting Subscribers Group you are required to be a member of ISLA .
Full details of how to become a member of ISLA are documented on the ISLA website pages Join ISLA .
Once membership of ISLA is confirmed you are able to subscribe to the Netting subscribers group .
Netting subscriptions Fees for 2017 will be £5000 + vat if applicable .
Once fees have been paid access to the opinions will be grated and you will instructed how to gain access .
Obtaining Netting Opinions: