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The International Securities Lending Association (ISLA) recognises the importance of education, information and guidance in the context of understanding both the mechanics of the industry as well as the broader importance of securities lending within financial markets. In this section, find a range of securities lending industry guides and best practice documents for lenders, borrowers, service providers as well as regulators and policymakers.
ISLA is in the process of developing a range of industry guides on securities lending from the perspective of three distinct groups; Institutional Investors and Asset Managers, Regulators and Policy Makers, and Agent Lenders and Borrowers. Each booklet aims to cover a myriad of relevant content relating to the securities lending market. Topics include the role of securities lending within capital markets, basic fundamentals and the business model, regulatory changes and implications, risk management and the development of collateral schedules and standardised legal frameworks. These will be available in due course.
When counterparties agree to a stock loan transaction, the identity of each party is known, and this then implies associated settlement and maintenance aspects of the resulting trade. Agency Lending Disclosure (ALD) is a process which agent lenders (intermediary) send data files to the borrower identifying each trade, the resulting collateral and which institutional investor is party to that trade.
Based on the findings and outputs of various working groups and ISLA-led initiatives, our best practice guides and papers aim to provide guidance for the securities lending industry. Their objective is to assist firms in the implementation of sound policies and processes within the relevant area.
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ISLA Working Groups
ISLA runs a variety of standing and topic specific working groups for its members, covering all aspects of advocacy, tax, legal, regulation and best practice. These include SFTR, CSDR, Legal & Regulatory Broadcasts and Best Practice.Click here to find out more
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