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Securities Lending


 Market Report



               Foreword                                                                     4

 An ISLA Publication   Alessandro Cozzani, Deputy Chairman, ISLA Board
 14th Edition - March 2021  Market Highlights                                               6


               Global Market Dynamics                                                       8


               Guest Contribution: Citi                                                    16
               ETFs – the New(ish) Financing Paradigm: An Update for 2021
               Andrew Jamieson

               Global Government Bond Markets in Focus                                     22


               Guest Contribution: Deutsche Bank                                           28
               Securities Lending & Repo – Financial Services’ “Front Line Workers”
               Maurice Leo

               Global Equity Markets in Focus                                              32


               Guest Contribution: ISSA                                                    36
               The Future of Securities Services
               Colin Parry and William Hodash

               Collateral Overview                                                         42


               Data Methodologies                                                          46


               About ISLA                                                                  47










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