The International Capital Market Association (ICMA) announced the launch of its Global Master Repurchase Agreement (GMRA) Clause Library and Taxonomy, an additional valuable service for ICMA members that will help facilitate standardization and improve efficiencies in the process of negotiating and managing GMRAs.
Developed by ICMA, working with global legal change and consulting firm, D2 Legal Technology (D2LT), and in collaboration with ICMA members, the primary objective of the ICMA GMRA Clause Library and Taxonomy is to eliminate or reduce the need to negotiate and the considerable time spent debating the form of contract clauses that achieve the same business outcomes. Market participants will benefit by achieving cost savings in on-boarding new counterparties.