ICMA and ISLA ask ESMA to delay SFTR until October
Impact of COVID-19 on SFTR implementation programmes The run-up to the first reporting start date on 11 April has coincided with the acceleration in the proliferation and intensity of the…
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ISLA: how beneficial owners are taking the lead on ESG (Premium)
Sustainable finance and ESG (Environmental, Social, Governance) investing is gaining traction across the asset management community. We talk to Andrew Dyson, ISLA’s CEO, about how securities lending is leading on…
Read More BNP Paribas, Eurex join ISLA’s sustainability council
The ISLA Council for Sustainable Finance (ICSF) announced that Eurex and BNP Paribas have joined as partners to the Council Executive. They join a number of beneficial owners on the…
Read More ISLA announces formation of the ISLA Council for Sustainable Finance
Following on from the earlier communication in December 2019, the International Securities Lending Association (ISLA) is pleased to release further details of the ISLA Council for Sustainable Finance (ICSF). The…
Read More ISLA publishes 12th securities lending market report including roadmap of EU developments through 2022
We are delighted to announce the release of the 12th Edition of the ISLA Securities Lending Market Report. The report continues to provide a platform for us all to better…
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Review of proposals to prevent CSDR’s mandatory buy-in regime from damaging liquidity (Premium)
Last week, 14 industry trade associations submitted a letter to the European Commission and ESMA requesting that CSDR’s mandatory buy-in provision be delayed or modified to preserve market liquidity. They…
Read More AFME, FIA, ICMA, ISDA and ISLA publish Master Regulatory Reporting Agreement
The Association of Financial Markets in Europe (AFME), Futures Industry Association (FIA), International Capital Market Association (ICMA), International Swaps and Derivatives Association (ISDA) and International Securities Lending Association (ISLA) have…
Read More ISLA Announces Formation of the Council for Sustainable Finance
Following sixteen months of intensive and rigorous preparations, the International Securities Lending Association (ISLA) is delighted to announce the formation of the ISLA Council for Sustainable Finance (ICSF). ICSF, which…
Read More ISLA publishes EU seclending markets manifesto with 5-year priorities
ISLA represents the common interests of the securities lending and financing industry in Europe and beyond. With 45% of its membership based in the EU27, and its other members committed…
Read More ISLA Publishes SFTR Report Modeller
The International Securities Lending Association (ISLA), is delighted to announce the publication of its report modeller for SFTR. The modeller has been designed to allow ISLA members to construct an…
Read More ISLA Publishes Phase 2 of ‘CSDR: Settlement Discipline Impact to Securities Lending
Following on from the initial paper entitled CSDR: Settlement Discipline Impact to Securities Lending – Phase 1: Identifying the Issues, ISLA is delighted to publish Phase 2: Recommendations, Guidance &…
Read More ISLA & Linklaters Publish a Joint Paper on Digitalisation & the Securities Lending Market
The International Securities Lending Association (ISLA) is delighted to announce the publication of a new white paper titled The Future of the Securities Lending Market | An Agenda for Change.…
Read More ISLA publishes report on LEIs and SFTR
The International Securities Lending Association has today published a paper titled ‘The LEI & Securities Finance Transaction Regulation (SFTR)’ Against the backdrop of the Securities Financing Transaction Regulation (SFTR) that…
Read More ISLA publishes Regulatory and Policy Maker Guide to Securities Lending, in association with Finadium
The International Securities Lending Association is delighted to announce the publication of its new Regulator & Policy Maker Guide to Securities Lending. Produced in association with Finadium, a consultancy focused on…
Read More ISLA’s 11th securities lending market report notes uncertainty and faster pace of regulatory change
We are delighted to announce the release of the 11th Edition of the ISLA Securities Lending Market Report. The report continues to provide a platform for us all to better understand…
Read More ISLA, FIA, ICMA and ISDA to create new Master Reporting Agreement
ISLA has partnered with the FIA, ICMA and ISDA, to create a new Master Reporting Agreement. The purpose of the new agreement is to provide for both mandatory and delegated…
Read More ISLA: EBA Advises Against Swift Implementation of Mandatory Haircuts for SFTs in Bank Capital Rules
The European Banking Authority today published its technical advice to the European Commission on the implementation into EU law of the latest Basel III (sometimes referred to as Basel IV)…
Read More ISLA decomplexifies corporate actions in preparation for SFTR
ISLA is developing a pan-industry consensus of booking processes to overcome the as yet unfathomed regulatory reporting obstacles. The Association has held four working group meetings involving 25 member firms…
Read More ISLA publishes Institutional Investor Guide to Securities Lending, in association with Finadium
The International Securities Lending Association is delighted to announce the publication of its new Institutional Investor Guide to Securities Lending. Produced in association with Finadium, a consultancy focused on securities…
Read More ISLA launches new website
The International Securities Lending Association (ISLA), a leading industry trade association representing the common interests of securities lending and financing market participants across EMEA, is proud to announce the launch…
Read More ISLA Publish 2019 Legal Opinions for the Global Master Securities Lending Agreement (GMSLA)
The International Securities Lending Association (ISLA) has published the 2019 updates to the legal netting opinions which support the Global Master Securities Lending Agreement (GMSLA) for the securities lending industry. Updates have been obtained only for…
Read More SFTR to enter into force 11 April 2019
ISLA Announcement: SFTR – RTS Published in the Official Journal The SFTR RTS determining the timing of the reporting regime, have been published in the Official Journal of the EU…
Read More ISLA says automation could mitigate CSDR impacts on seclending
Settlement rates for securities lending as at 2018 were estimated to be between 80 and 90% with the majority of failed settlements occurring on the return leg of loan transactions.…
Read More ISLA releases GMSLA pledge documentation
As part of its commitment to support the use of global master agreements, ISLA in conjunction with Clifford Chance and key industry stakeholders has developed a pledge collateral version of…
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A Common Domain Model for securities finance
Last week, ISLA’s Andy Dyson made a passing reference to a conversation with ISDA about their Common Domain Model (CDM) project, that could be extended to securities finance. This is…
Read More ISLA Publishes 10th Edition of the Securities Lending Market Report
We are delighted to announce the release of the 10th Edition of the ISLA Securities Lending Market Report. The report continues to delve into how securities lending markets are behaving…
Read More ISLA publishes CSDR: Settlement Discipline Impact to Securities Lending
ISLA is delighted to publish CSDR:Settlement Discipline Impact to Securities Lending, which investigates CSD Regulation (EU)No 909/2014 and its impact on settlement disciplines from the perspective of Securities Lending activity. The…
Read More ISLA: ESMA Publishes Key Priorities for 2019
ESMA has recently published its Supervisory Convergence Work Programme for 2019 (https://www.esma.europa.eu/file/50237/download?token=ry0ziDAM). Amongst other things, this contains references to both SFTR and CSDR. The full summary from ISLA is available…
Read More ISLA publishes GMSLA Pledge documentation Q&A
Following the initial launch of the new GMSLA “Pledge” Structure Documentation, ISLA is delighted to publish a series of supporting Frequently Asked Questions (FAQs). The document is available for download…
Read More ISLA clarifies SFTR launch date of Q2 2020
In relation to a previous ISLA communication on the SFTR reporting RTS, in which we suggested that the Council of the EU had extended the period to scrutinize the relevant…
Read More ISLA: European Council extends scrutiny period for SFTR
The European Council has extended the formal scrutiny period of the Reporting Technical Standards (RTS) in respect of the SFTR by three months. In practice, this implies that the scrutiny…
Read More ISLA News now available through Bloomberg Launchpad
The International Securities Lending Association (ISLA), a leading financial services trade association today announced a new capability whereby securities finance traders can personalise their Bloomberg Launchpad settings to receive ISLA…
Read More ISLA releases 9th Securities Lending Market Report
The International Securities Lending Association (ISLA), a leading financial services trade association has today published its latest Securities Lending Market Report. This is the 9th edition of the report and…
Read More ISLA staffs up for SFTR
International Securities Lending Association (ISLA) announces Richard Colvill is to join the team Wednesday, 5th September 2018 – London – The International Securities Lending Association (ISLA), a leading financial services…
Read More ISLA Forms CSDR Working Group
On 19th July 2018, the newly formed ISLA CSDR working group met for the first time. Early this year, ISLA undertook a settlement survey of its membership, that highlighted a…
Read More ISLA updates members on the German Investment Taxes Act (GITA)
Following the introduction of the German Investment Taxes Act (GITA) in January 2018, we saw some dislocation in this market with a number of institutional investors either restricting their lending…
Read More ISLA welcomes Spain securities lending consultation
ISLA announced it “is delighted” to see the recent consultation from the Spanish Ministry of Economy regarding securities lending and mutual funds. ISLA said in a statement: “Over time, we…
Read More ISLA publishes results of settlement survey
ISLA has published the results of a settlement survey undertaken with a number of member firms. The objective of the survey was to understand how the market undertakes pre-matching and manages loan…
Read More ISLA warns on minimum haircut complexity
ISLA’s response to the European Commission’s consultation on the finalisation of Basel III identified a need to clarify the scope of minimum haircuts, and warned against making the application too…
Read More ISLA’s Dyson posts video on SFTR
ISLA’s CEO Andrew Dyson talks about Securities Financing Transactions Regulation
Read More ISDA, EBF, ICMA and ISLA publish whitepaper on benefits of post-trade risk reduction services
The International Swaps and Derivatives Association, Inc. (ISDA), the European Banking Federation (EBF), International Capital Market Association (ICMA) and the International Securities Lending Association (ISLA) have published a whitepaper on…
Read More ISLA publishes securities lending report 2018, SFTR and ETFs in focus
The International Securities Lending Association published an 8th edition of its Securities Lending Market Report. In the edition, ISLA builds upon the themes of transparency and providing the market with analysis and…
Read More ISLA updates on Germany’s MoF draft guidance for Tax Act
The German Federal Ministry of Finance released a draft yesterday of the eagerly expected guidance on the application of the new provision of the of the German Investment Tax Act…
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Success stories this week in securities finance (Premium)
After what seems like years of difficult news, we would like to publicly recognize situations and groups of people that are moving the collateralized trading markets in the right direction.…
Read More EY alerts ISLA to “imminent” German Investment Tax Act changes
ISLA has been informed by EY that a revised draft of the guidance notes to accompany the German Investment Tax Act are imminent. This has reportedly been sent to the…
Read More ISLA reports wins on German tax act
ISLA received an update from EY representatives following a meeting with Germany’s Ministry of Finance. Responding to ISLA’s concerns expressed in four principal points, EY advised that: In-Scope Transactions – The rule…
Read More ISLA to German MoF: “outlook poor” for equities markets unless concessions made on tax act
ISLA has submitted a letter to the German Federal Ministry of Finance warning of potential outsized impacts to the country’s equities markets unless the German Investment Tax Act 2018 makes…
Read More ISLA to EC: securities lending market impacts of BRRD moratorium powers
ISLA has expressed concerns over the impact on securities lending markets of amended moratorium powers under the Bank Recovery and Resolution Directive (BRRD). Moratoria have the effect of suspending payment and delivery…
Read More ISLA publishes best practices for securities lending
ISLA released a paper, Best Practice for Operational Processes for Securities Lending Transactions, which aims to provide a practical and standardized approach to the operational processes of securities lending activity undertaken…
Read More ISLA releases securities lending market report
In this latest report, ISLA builds upon previously observed themes, particularly around the role of government bond lending and how collateral is flowing around the system. From the report: Through the closer monitoring of…
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