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The International Securities Lending Association (ISLA) is a trade association established in 1989 to represent the common interests of participants in the securities lending industry. ISLA works closely with regulators across Europe and our activities embrace markets and prudential regulatory regimes as well as investor protection. In the United Kingdom, the association has representation on the Securities Lending Committee, a committee of market practitioners chaired by the Bank of England.

ISLA has contributed to a number of major market initiatives, including the development of the UK Money Markets Code and the industry-standard lending agreement, the Global Master Securities Lending Agreement (GMSLA).

ISLA's aims include:

  1. To provide guidance to the securities lending industry and to be its leading voice within the EMEA regions.

  2. To create a professional and interactive environment for its membership, and promote the industry’s global development.

  3. To ensure sound industry practices, improve industry transparency and education, highlight industry developments and to liaise with the wider financial community, institutional investors, the media, other trade associations, regulators, governments and policymakers.

  4. To work with regulators to provide a safe and efficient framework for securities lending and enhance the public profile of the industry.

  5. To sponsor the Global Master Securities Lending Agreement (GMSLA) as the market standard legal agreement, both title transfer and pledge versions as well as the ISLA netting opinions.

ISLA has over 140 members comprising of insurance companies, pension funds, asset managers, banks, securities dealers and service providers. While ISLA is based in London, it represents members predominately across the UK and Europe, and across the globe. 

In 2016, ISLA appointed Andrew Dyson as its Chief Executive and has an elected Board of fourteen industry professionals representing firms from all parts of the industry globally.
(To view board details, please visit the ‘ISLA Board’ page)