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The International Securities Lending Association (ISLA) is a trade association established in 1989 to represent the common interests of participants in the securities lending industry. ISLA works closely with regulators across Europe and our activities embrace markets and prudential regulatory regimes as well as investor protection. In the United Kingdom, the association has representation on the Securities Lending Committee, a committee of market practitioners chaired by the Bank of England.

ISLA has contributed to a number of major market initiatives, including the development of the UK Money Markets Code and the industry-standard lending agreement, the Global Master Securities Lending Agreement (GMSLA).

ISLA's aims include:

  • Working with regulators to provide a safe and efficient framework for securities lending
  • Highlighting new market developments
  • Ensuring sound industry practices
  • Enhancing the public profile of the securities lending industry
  • Fostering good communication and co-operation with other trade associations
  • Promoting the use of the Global Master Securities Lending Agreement (GMSLA) as the market standard legal agreement.

ISLA has over 130 members comprising of insurance companies, pension funds, asset managers, banks, securities dealers and service providers. While ISLA is based in London, it represents members predominately across the UK and Europe, and across the globe. 

In 2016, ISLA appointed Andrew Dyson as its Chief Executive and has an elected Board of fifteen industry professionals representing firms from all parts of the industry globally.
(To view board details, please visit the ‘ISLA Board’ page)