The International Securities Lending Association (ISLA) published the 2023 netting opinions that support the title transfer versions of the Global Master Securities Lending Agreement (GMSLA).
The 2023 opinions have been obtained by ISLA for the benefit of ISLA members who subscribe to the ISLA Netting Opinions service. Coverage of ISLA’s Master Confirmation Annex (MCA), published in November 2021 to accompany the GMSLA documentation suite, has been extended to cover a further ten jurisdictions. The MCA provides a standard framework and set of terms that can be used for “non-standard” trade types (such as evergreens and extendables).
That opinion coverage has now been extended to cover the Taiwan, Malaysia and Korean annexes to the GMSLA 2010. The annexes were originally published by PASLA and have been adopted by ISLA. All opinions cover at a minimum; companies, banks and securities dealers, most jurisdictions also cover insurance companies, hedge funds and mutual funds as parties to the GMSLAs.
Access more information, including a full matrix listing of all 64 jurisdictions covered, the counterpart types covered in each jurisdiction and to access the opinions.