Course Outline

Download a copy of the sample course outline

One day 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.

Learning Objectives

Participants will take away with them the following:

• An in-depth understanding of GMSLA 2000 and its Schedule
• Knowledge of common amendments negotiated in the Schedule.
• Awareness of common credit issues relating to this documentation.
• Knowledge of the securities lending market itself
• An understanding of the principal differences between the 2000 and 2010 versions of the Global Master Securities Lending Agreement.

Who Should Attend

• Legal Counsel
• Derivatives Documentation Negotiators
• Credit Risk Managers
• Collateral Managers
• Treasury Managers
• Fund Managers
• Securities Lending Officers