Legal Agreements

The International Securities Lending Association (ISLA) has been supporting the securities lending industry by providing a standard legal framework for over 20 years. 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. The GMSLA in now available in two forms; title transfer and a security interest version which was released to the market at the end of 2018.

For securities lending activity, ISLA supports the following documents and versions;

GMSLA 2010 and 2000 version

GMSLA Security Interest over Collateral 2018 version

Information and access to the netting opinions that are available through aosphere, and support the GMSLA 2010 and 2000 versions are available in Legal Opinions.


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