GMSLA Security Interest ('Pledge')

As part of its commitment to support the use of global master agreements for the securities lending industry, ISLA has developed a pledge collateral version of the existing Global Master Securities Lending Agreement (GMSLA). The new agreement is based on the existing GMSLA 2010 and provides ISLA members with an alternative to the title transfer framework.

ISLA members have access to the master agreement, as well as the various supporting security agreements and legal opinions. To access the supporting Tri-party Control Agreements (“TACA”), members need to contact their tri-party business representative directly.

The tri-party agents that ISLA has worked with are BNY Mellon, Clearstream, Euroclear and J P Morgan.

Further information on the documentation can be found in ‘GMSLA 2018 – Pledge Overview & FAQ’s’