Mastering the 2010 Global Master Securities Lending Agreement (GMSLA)
 Confidently interpret and negotiate the 2010 GMSLA
The Global Master Securities Lending Agreement (GMSLA) is at the heart of global securities lending transactions. Whether you’re negotiating terms, assessing credit exposure, managing collateral, or executing trades, understanding the 2010 GMSLA is essential for protecting your organisation and optimising deals.
This self-study programme distils years of real-world negotiation experience into clear, actionable lessons—so you can navigate this complex agreement with clarity and authority.
Who This Training is For
This course is designed for professionals in:
- Legal teams – drafting and negotiating the GMSLA.
- Credit teams – assessing and mitigating counterparty risk.
- Collateral teams – managing posting, receipt, valuation, and substitution.
- Trading teams – executing and managing securities lending transactions.
Your 3-Day Learning Journey
Day 1 – Fundamentals & Structure:
- Introduction to Securities Lending: market purpose and participants.
- Risk Landscape: legal, credit, operational, and market risks.
- GMSLA Framework: history, purpose, and structure of the agreement.
- Key 2010 GMSLA updates and why they matter.
Day 2 – Core Provisions & Consequences:
- Collateral, Margin & Market Value: eligibility, valuation, and substitution.
- Transaction Mechanics: manufactured payments, voting rights, and corporate actions.
- Defaults & Remedies: triggers, processes, and Default Market Value calculation.
- South African Market Focus: applying the GMSLA and understanding the 2016 SASLA Annex.
Day 3 – Advanced Topics & Negotiations: Â
- Tax & Re-characterisation Risks: STT exemptions, classification issues, and legal implications.
- Global Regulatory Considerations: cross-border and compliance challenges.
- Advanced negotiation strategies for legal, credit, and trading teams.
- Case studies and real-world examples from international markets.
Course Format
- Self-study digital training — learn at your own pace.
- 3 x 90-minute expert-led recordings — packed with practical examples and clause-by-clause analysis.
- Downloadable course materials — slides, reference guides, and key clause summaries.
- Access period: 21 days from enrolment dateÂ
Why This Training Stands Out
- Taught by an industry insider — over 15 years’ experience in derivatives and securities lending.
- Practical, not theoretical — real negotiation tactics, tested in global markets.
- Globally relevant, locally applied — includes a dedicated focus on South African market considerationsÂ
By the end of this training, you will be able to:
- Confidently interpret and negotiate the 2010 GMSLA.
- Understand the full risk landscape, from legal to operational.
- Apply global best practices to your local market context.