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ICMA Workshop on the GMRA: an overview of the agreement and supporting legal opinions
 
Date and Venue

Date: 3 April 2017

Timing:
13:30-14:00 Finger lunch
14:00 – 15:30 GMRA Workshop
 
Venue:
Hilton Hotel Sandton
138 Rivonia Road
Sandton, 2196
South Africa

Event Overview

This event provided attendees with an overview of how repo transactions operate within the framework provided by the Global Master Repurchase Agreement (GMRA) and highlight the issues that need to be addressed by users.
 
The presentations included:    
 
•   an introduction to the GMRA in the context of the cross border repo market
•   an overview of the differences between the GMRA 2000 v GMRA 2011
•   an introduction to the ICMA GMRA legal opinions, including the GMRA legal opinion for South Africa
 
The event was targeted at legal and documentation staff, as well as for front office, risk management, operational, compliance and regulatory personnel.
 
Speakers:
 
Lisa Cleary
Lisa Cleary joined ICMA in September 2008, as Associate Counsel in the legal team. Prior to joining ICMA, Lisa worked at Goldman Sachs on their International Warrants and Certificates Programme and then at Freshfields Bruckhaus Deringer, where she developed her experience of repo and stocklending related matters, fostering good working relationships with the SLRC and ICMA. At ICMA, Lisa works on GMRA related issues, including coordinating updates to the agreement and the management of the annual legal opinion seeking and updating exercise.  Lisa also provides support to the ICMA European Repo and Collateral Council and the ICMA legal helpdesk, dealing with matters relating to the GMRA and ICMA’s rules & recommendations for the secondary market.
 
Kelle Gagne
Kelle Gagné is an executive at ENSafrica in the banking and finance department. She specialises in cross-border structured finance transactions and regularly advises financial institutions on derivatives, securities lending and repo transactions, and related collateral issues. Kelle’s experience includes drafting and negotiating all aspects of International Swaps and Derivatives Association (ISDA) documentation, the Global Master Securities Lending Agreement (GMSLA) and the GMRA, as well as other structured finance related agreements.

The 2015 Japanese Securities Summit, will be held in London on 11 February, and will focus on the potential of Japanese securities and government bond markets for international investors.

The event is being organised by Japan Securities Dealers Association (JSDA) with the assistance of the International Capital Market Association (ICMA). It will feature presentations and panel discussions with the members of a high level delegation from Japan on the latest developments in Japanese securities markets, including the evolution of market infrastructure.

Further information will be available soon.  For any queries, please contact Gemma Fisher