Training

Securities Lending and the GMSLA 2000

One day training course

1. Introduction

2. Differences between repos and securities loans

3. Nature of Securities Lending

4. The importance of intermediaries

  • Broker dealers
  • Specialist intermediaries
  • Prime brokers

5. Lender’s and Borrower’s key concerns

6. Elements of a securities lending deal

  • Confirmations
  • Settlements
  • Terminations
  • Delivery failures
  • Corporate actions and votes

7. Basic UK Tax Issues

8. Risks with Securities Lending

9. An in depth review of the Global Master Securities Lending Agreement (2000) (“GMSLA 2000”) and its Schedule

10. Amendments sometimes proposed to the GMSLA 2000

11. Main differences between the GMSLA 2000 and the GMSLA 2010

12. Practical negotiation exercise

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

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