One day course

1. The nature of and types of repo

• What is a repo?
• How do they work?
• Types of repo.

2. Typical Repo Uses

• From the Seller's viewpoint
• From the Buyer's viewpoint
• Use by Central Banks.

3. Buy/sellbacks

• Difference between repos and buy/sellbacks.

4. Legal issues affecting repos

• Nature of the transaction
• Ownership of the securities
• Drawbacks of recharacterisation as a secured loan
• English law legal opinion by Richard Sykes QC
• ICMA legal opinions.

5. Repo Documentation

• History of the TBMA/ISMA Global Master Repurchase Agreement (2000) (the "GMRA 2000")
• Contents of the GMRA 2000
• Paragraph by paragraph analysis of the GMRA 2000
• The GMRA 2000 Annexes  
• Study of relevant Annexes of the client's choice.
• A review of the client's own Annex I to the GMRA 2000.

6. Practical negotiation exercise.

Training is charged at an agreed daily rate plus Value Added Tax. 

• DDL ::
• DDL Personnel ::
• What can DDL offer you ::
• Consultancy ::
• Negotiation ::
• Recruitment ::
• Training ::
• Credit Derivative Indices
• Repos and the TBMA/ISMA Global Master
• 1992 ISDA® Master Agreement ::
• 2002 ISDA® Master Agreement
• Credit Derivatives ::
• ISDA® Credit Support Annexes ::
• Securities Lending ::
• ISDA® Credit Derivatives Definitions by Paul C. Harding ::
• Repo Master Agreements by Paul C. Harding and Christian A. Johnson ::
• Books ::
• Mastering Collateral Management and Documentation by Paul C. Harding and Christian A. Johnson ::
• Mastering the ISDA® Master Agreements (1992 and 2002) by Paul C. Harding ::
• Composite Case Study
• Consultancy ::
• Negotiation ::
• Negotiation ::
• Online training ::
• Recruitment
• Recruitment ::
• Training ::
• Training and Placement ::
• ISDA ® Negotiation ::
• ISDA ® Master