• White LinkedIn Icon

ISDA® is a registered trade mark of the International Swaps and Derivatives Association, Inc.
This programme is neither sponsored by nor affiliated with the International Swaps and Derivatives Association, Inc.

  • White Twitter Icon

The 2010 Global Master Securities Lending Agreement

Audience: This course is suitable for legal teams involved in negotiating the GMSLA, credit teams involved in assessing the credit risks, collateral teams involved in the posting and receiving of collateral, as well as trading teams who enter into securities lending transactions.

 

  • What is securities lending?

  • Why enter into securities lending transactions?

  • Risks involved in securities lending

  • History and structure of the GMSLA

  • Main changes in the new 2010 GMSLA (amended definitions and concepts)

  • Collateral and margin

  • Market Value

  • Substitutions

  • Manufactured Payments

  • Voting rights and corporate actions

  • Default mechanisms

  • Using the GMSLA in South Africa

  • The terms of the 2016 SASLA Annex

  • Tax implications and STT exemptions

  • Re-characterisation risks

 

Outcomes: Delegates will gain a detailed understanding of the legal and operational workings of the 2010 GMSLA, and the key differences between the 2010 and 2000 versions of the agreement. In particular this agreement and the collateral process is discussed in the context of the South African market and how this agreement works for South African counterparts.

 

Duration: 6 hours (9am – 3pm)

 

Cost: R6 800 per person (excluding VAT)

CAPE TOWN