ISLA

St Michael's House
1 George Yard
London
EC3V 9DH

Contact
Andrew Dyson


Telephone
0044(0)207 743 9314


Email
andrew.dyson@isla.co.uk


Website
www.isla.co.uk
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 European regulators and in the United Kingdom has representation on the Securities Lending and Repo Committee, a committee of market practitioners chaired by the Bank of England. The Association has contributed to a number of major market initiatives, including the development of the UK Securities Borrowing and Lending Code of Guidance and the industry-standard lending agreement, the Global Master Securities Lending Agreement (GMSLA). ISLA's aims for 2009/10 are:

Working with regulators to provide a safe and efficient framework for securities lending.

Opening up new markets for securities lending.

Providing information to members about securities lending market developments.

Developing good industry practices.

Enhancing the public profile of the securities lending industry.

Fostering good communication and cooperation with other trade associations.

Completing ISLA's review of the GMSLA and promoting use of the Agreement.

Implementing ISLA's model for Agent Lender Disclosure in Europe to meet the needs of securities borrowers under Basel II.


ISLA has more than 100 full and associate members comprising insurance companies, pension funds, asset managers, banks, securities dealers and service providers representing more than 4,000 clients. While based in London, ISLA represents members from more than twenty countries in Europe, the Middle East, Africa and North America.

ISLA has an elected Board of twelve industry professionals representing firms from all parts of the industry. The current Chairman is James Templeman of Barclays Global Investors. ISLA appointed Kevin McNulty as its Chief Executive in 2009.
ISLA jobs
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Media and Communications Officer
International Securities Lending Association (ISLA) | London
ISLA Features archive
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Don’t cry for me, I’m already ahead
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ISLA’s Securities Finance and Collateral Management Conference brought the European market together to address the industry’s biggest challenges, and to celebrate the progress it has made over the last quarter of a century
No longer born equal
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Experts discuss the possible Brexit, fears over the future of repo and how business is faring in Europe, as well as their most vivid memories of the past 25 years with the ISLA conference coming up later in June
Fail to prepare, prepare to fail
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The newly rebranded ISLA conference saw a range of topics on the agenda, from the collateral conundrum to the practical implications of regulatory change
Little let-up
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With many in the industry conceding that their last profitable quarter was nearly two years ago, new swathes of forthcoming legislation presents yet more worry for brokers and clients alike
Plenty to sweat over
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ISLA’s 22nd Annual International Securities Lending Conference took place in a picturesque Prague. Attendees came out in force for the informative panel discussions despite sweltering heat
ISLA Interview archive
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Andrew Dyson
ISLA
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Andrew Dyson of the International Securities Lending Association discusses which regulations have been clogging up his desk this year
Ed Oliver and Mark Barnard
ISLA
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ISLA has rebranded its annual conference to better reflect business today. Co-chairs Ed Oliver and Mark Barnard discuss what to expect from the Securities Finance and Collateral Management Conference
Kevin McNulty
ISLA
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What travails has the industry experienced since last year’s International Securities Lending Association conference? SLT asks ISLA’s Kevin McNulty
Kevin McNulty
ISLA
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In advance of the annual ISLA conference in Berlin, ISLA's Kevin McNulty speaks to SLT
ISLA News archive
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ISLA allays MiFID II concern
12 April 2017 | London | Reporter: Mark Dugdale
ISLA members had expressed particular concerns over the timing of reporting transactions with EU central banks, and whether they would be expected from the implementation date of MiFID II
Paralympic champion to close ISLA 2017
30 March 2017 | Berlin | Reporter: Drew Nicol
The UK’s most successful paralympic athlete will be the closing keynote for this year’s ISLA conference
ISLA: Liquidity aims of CMU face obstacles
24 March 2017 | London | Reporter: Mark Dugdale
EU legislators should open up UCITS fund securities lending and pay closer attention to the lending of government bonds to meet its liquidity targets when developing the capital markets union
ISLA bags ECB’s Jessé as keynote speaker
24 March 2017 | Berlin | Reporter: Drew Nicol
ISLA secured the ECB's Marc Bayle de Jessé as a keynote for its conference in Berlin in June
US equities have no chill
16 March 2017 | London | Reporter: Drew Nicol
US securities lending activities endured a rollercoaster in its equity lines during the final months of 2016, according to the ISLA latest market report
EXCLUSIVE: Hutchings returns as new COO of ISLA
22 August 2016 | London | Reporter: Drew Nicol
Mark Hutchings has been appointed as the International Securities Lending Association’s (ISLA) new COO following the promotion of Andrew Dyson to CEO...
Philippines 'plans' repo reforms
16 August 2016 | Manila | Reporter: Mark Dugdale
The Philippines is working on legislative reforms to introduce a repo market, according to reports...
ESMA chair rubbishes collateral shortage fears
27 June 2016 | Vienna | Reporter: Drew Nicol
Concerns of a collateral shortage in the wake of the implementation of the EMIR were dismissed as unfounded by the Steven Maijoor, chair of the ESMA, in a keynote speech at ISLA’s annual conference...
ISLA: CCPs—what's in it for me?
23 June 2016 | Vienna | Reporter: Drew Nicol
The growth of central counterparties (CCPs) in the securities lending market is being held back by a lack of clear incentives, according to ISLA conference panellists...
ISLA: Beneficial owners exploring P2P lending
23 June 2016 | Vienna | Reporter: Drew Nicol
Increasing numbers of beneficial owners are looking to cut out the middleman and engage in peer-to-peer lending with non-banks, according to conference panellists at ISLA...
ISLA: There's a bull in the China store, but no bear
22 June 2016 | Vienna | Reporter: Drew Nicol
China is giving off mixed messages to the securities lending market on its willingness to incorporate short selling, according to ISLA's conference panellists...
ISLA: Positivity unwavered by securities challenges
22 June 2016 | Vienna | Reporter: Drew Nicol
The majority of ISLA conference delegates expect the overall securities revenue pool to decrease over the next three years, but remain generally positive about the future...
ISLA: Blockchain to end counterparty risk, eventually
21 June 2016 | Vienna | Reporter: Drew Nicol
Blockchain has the potential to reduce balance sheet use and bring settlement risk to near zero, according to participants in a blockchain roundtable at the ISLA conference in Vienna...
ISLA: Two ISLA board members to step down
21 June 2016 | Vienna | Reporter: Drew Nicol
Two of the International Securities Lending Association's (ISLA) board members are set to step down this year, according to Andrew Dyson, ISLA COO, who was speaking ISLA's conference in Vienna...
ISLA gains new representative
08 June 2016 | London | Reporter: Drew Nicol
ISLA has added to its full time roster with the appointment of Sejal Amin as an ISLA representative...
ISLA 25th conference promises to divulge secrets
07 June 2016 | Vienna | Reporter: Drew Nicol
ISLA's 25th Securities Finance and Collateral Management Conference on 21 to 23 June offers three days of industry discussion on a wide variety of topics, from emerging technology to regulation and tax developments relevant to both buy- and sell-side
Dyson to take on ISLA top job
27 May 2016 | London | Reporter: Drew Nicol
Andrew Dyson has been confirmed as the new CEO of ISLA, following the decision of current incumbent Kevin McNulty to step down after seven years in the post...
Short sellers zero in on UK hospitality sector
20 May 2016 | London | Reporter: Drew Nicol
The UK’s hard-pressed hospitality sector has caught the eye of short sellers as the looming EU Referendum and legislative pressures have thrown the future of the sector into uncertainty, according to Markit...
ISLA: consistent regulation key to avoiding disruption
28 April 2016 | London | Reporter: Drew Nicol
Consistency in regulators’ definitions and an understanding of assets pools is essential to practical market rules for collateral reuse, according to the ISLA...
McNulty to step down as ISLA CEO
20 April 2016 | London | Reporter: Drew Nicol
Kevin McNulty, CEO of the International Securities Lending Association, will step down after the ISLA 25th annual conference in June...
ISLA: demand up for equity as collateral
03 September | London | Reporter: Drew Nicol
Equities now take up 57 percent of all collateral held by triparty service providers, according to an International Securities Lending Association (ISLA) market study...
Legislation is the route to transparency, says DTCC
30 July 2015 | Washington DC | Reporter: Stephanie Palmer
DTCC has publicly supported legislative action to tackle obstacles that hinder the transparency goals of the G20 summit...
ISLA: regulatory concerns
24 June 2015 | Lisbon | Reporter: Stephen Durham
The International Swaps and Derivatives Association Resolution Stay Protocol is a major concern for the securities financing industry, according to a panel at the annual International Securities Lending Association (ISLA) conference in Lisbon...
ISLA vents its concerns
21 April 2015 | London | Reporter: Stephen Durham
The International Securities Lending Association (ISLA) has expressed its concerns regarding the EU Proposal for Regulation on Reporting and Transparency of Securities Financing Transactions...
€1.7 trillion securities on loan in 2014
17 April 2015 | London | Reporter: Stephen Durham
The International Securities Lending Association (ISLA) has found that €1.7 trillion of securities were on-loan globally as at 31 December 2014, drawn from an available lending pool of €12.5 trillion...
IIFM promotes Islamic alternative to repo
10 February 2015 | London | Reporter: Stephanie Palmer
The International Islamic Financial Market’s MCM Agreement is a viable Islamic alternative to repo, according to speakers at a London event to raise awareness of the agreement...
ISLA warns against Ireland’s relaxation limit
24 October 2014 | Dublin | Reporter: Mark Dugdale
ISLA has hit out at the Central Bank of Ireland, criticising its proposal to limit the collateral diversification relaxation in the ESMA guidelines on exchange-traded funds and other UCITS...
SunGard solution for Islamic Bank of Egypt
12 August 2014 | Cairo | Reporter: Catherine Van de Stouwe
Faisal Islamic Bank of Egypt has selected SunGard’s suite of enterprise risk management solutions to help build a new operational framework for improved risk exposure, reporting and Basel compliance.
Small investors can do sec lending too, says Ireland
13 June 2014 | Grand Cayman | Reporter: Mark Dugdale
Smaller entities can access the securities lending market for their funding needs, according to Ned Ireland, vice president and lead underwriter at Cayman Islands-based private advisory firm Cal & Schwartz Capital...
SEC cracks down on shorting with record fine
11 March 2014 | Long Island | Reporter: Georgina Lavers
The Securities and Exchange Commission (SEC) has slapped the largest-ever monetary sanction for a Rule 105 short selling violation, as a Long Island-based proprietary trading firm and its owner agreed to pay $7.2 million to settle charges...
ICMA publish repo bible
05 March 2014 | London | Reporter: Stephen Durham
ICMA’s European Repo Council (ERC) has launched its updated guide to best practice in the European repo market, which gives practical guidelines for traders and legislators alike...
ISLA appoints four new to board
13 February 2014 | London | Reporter: Georgina Lavers
As a result of a recent election, the International Securities Lending Association (ISLA) has appointed four new directors to its board...
ISLA warns against haircuts regulation
09 December 2013 | London | Reporter: Georgina Lavers
The ICMA ERC and ISLA have both responded to proposed regulation from the FSB, in a joint letter that warned against the excessive curbing of haircut practices...
Swiss FATCA cooperation on its way
13 September 2013 | Zurich | Reporter: Georgina Lavers
Swiss banks will cooperate with the US Internal Revenue Service under FATCA legislation...
ISLA offer triparty collateral help
12 September 2013 | Paris | Reporter: Georgina Lavers
The International Securities Lending Association (ISLA) have published a guide to using triparty collateral services under the ESMA guidelines for ETFs and other UCITS issues...
ISLA conference: FTT could cost
20 June 2013 | Prague | Reporter: Mark Dugdale
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The EU Financial Transaction Tax (FTT) would make it difficult to earn a profit from securities lending and repo if it is enacted in its current form, according to panellists at ISLA's annual conference...
ISLA conference: time for sec lending and repo to buddy up
19 June 2013 | Prague | Reporter: Mark Dugdale
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Securities lending and repo desks should move closer together to provide a better overview of collateral, according to one panellist at ISLA’s annual conference in Prague...
€2 billion lost revenue if FTT comes into play, warns ISLA
06 June 2013 | London | Reporter: Georgina Lavers
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ISLA has responded in full to the Financial Transaction Tax, with stern implications that the tax as proposed would “close down” the securities lending market...
FinTution and ISLA extend course discount
19 April 2013 | London | Reporter: Mark Dugdale
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FinTution and the International Securities Lending Association (ISLA) have agreed a change in the discount structure for their Introduction to Securities Lending course for staff of beneficial owners and regulatory bodies...
ISLA names Andrew Dyson as new COO
28 January 2013 | London | Reporter: Jenna Jones
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The International Securities Lending Association (ISLA) has appointed Andrew Dyson to the newly created role of chief operating officer starting in March 2013...
General treasurer hires new chief investment officer
18 December 2012 | Rhode Island | Reporter: Jenna Jones
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Rhode Island’s general treasurer, Gina Raimondo has appointed Anne-Marie Fink as the new chief investment officer/deputy treasurer of finance, responsible for managing the state’s $7.3 billion dollar pension fund...
Newedge recruits new group CFO
19 September 2012 | Paris | Reporter: Jenna Jones
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Multi-asset brokerage firm Newedge has appointed Ghislaine Mattlinger as group chief financial officer (CFO), and member of the Newedge executive committee...
ISLA battles ESMA over UCITS, stating ‘confusing guidance’
04 April 2012 | London | Reporter: Georgina Lavers
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ISLA submitted a response to ESMA’s consultation paper relating to UCITS, raising three key points...
Canadian court rules on CSA
18 January 2012 | Ottawa | Reporter: Anna Reitman
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The Supreme Court of Canada forced the federal government back to the drawing board on the Canadian Securities Act (CSA) when it unanimously found the legislation to be unconstitutional...
"Broad agreement" on FTT in European Parliament
10 January 2012 | Brussels | Reporter: Anna Reitman
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A "very broad agreement" in favour of an EU financial transaction tax emerged at the start of the Economic and Monetary Affairs Committee's work on the legislative proposal...
Emerging markets 'key to growth'
30 June 2011 | Lisbon | Reporter: Ben Wilkie
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According to the ISLA emerging markets panel on Wednesday a large gap has evolved between supply and demand in many emerging markets – the largest gap being in Russia and Israel...
UAE to offer Islamic repo
23 June 2011 | UAE | Reporter: Ben Wilkie
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The United Arab Emirates Central Bank is now accepting Islamic certificates of deposit as collateral...
Registrations open for ICMA/ISLA workshops
24 March 2011 | London | Reporter: Ben Wilkie
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The International Capital Market Association (ICMA) and the International Securities Lending Association (ISLA) will be holding a workshop on the Global Master Repurchase Agreement (GMRA) and the Global Master Securities Lending Agreement (GMSLA)...
NBAD to launch Shariah repos
28 February 2011 | Abu Dhabi | Reporter: Ben Wilkie
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The National Bank of Abu Dhabi has announced that it is to launch an Islamic repo product within the next fortnight...
ISLA seeks topics for conference
24 February 2011 | London | Reporter: Ben Wilkie
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The organisers of the forthcoming ISLA/AFME International Securities Lending Conference in Portugal in June are soliciting industry views for topics to be discussed during round table sessions...
Short selling disclosure threshold too low
15 September 2010 | London | Reporter: Justin Lawson
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Proposed short selling disclosure regulations announced today by the European Commission (EC) are too stringent and threaten market efficiency, according to the International Securities Lending Association (ISLA).
Associations respond to European Commission
10 August 2010 | Brussels | Reporter: Ben Wilkie
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ISLA, ISDA and the AFME have responded to the European Commission's consultation on short selling rules.
ICMA and ISLA partner on GMRA workshops
06 July 2010 | London | Reporter:
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The International Capital Market Association (ICMA) and the International Securities Lending Association (ISLA) will partner to hold joint public workshops on the Global Master Repurchase Agreement (GMRA)
Data Explorers launches Risk Adjusted Returns
25 June 2010 | London | Reporter:
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Data Explorers, this week at the annual ISLA conference in Berlin launched its Risk Adjusted Returns. This new framework highlights the main sources of securities lending program risk and return across multiple dimensions and peer groups
ISLA looking for harmony
23 June 2010 | ISLA Conference | Reporter:
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The International Securities Lending Association (ISLA) is urging consistent and proportionate regulation for short selling, in response to a current European Commission (EC) consultation exercise.
New laws
19 December 2009 | Philippines | Reporter:
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The Philippine Stock Exchange(PSE) welcomes the passage of the Real Estate Investment Trust (REIT) Act into law, the fourth landmark legislative reform proposed by the PSE to boost the Philippine capital markets. PSE president and chief executive....
Rhode Island eBays property
10 December 2009 | Providence | Reporter:
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General Treasurer Frank T. Caprio announced recently that Rhode Island will join a select group of other states which offer unclaimed property items for bid on Internet auction giant eBay. The public auctions will run from December 14 2009 to January
As many as 90% of U.S. pension funds could suffer losses
3rd November 2009 | Providence | Reporter:
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General Treasurer Frank Caprio confirmed today that the Rhode Island State Pension System exited its securities lending program earlier this year after realizing a profit of $10 million.