International Securities Lending Association

ISLA and the International Capital Market Association (ICMA) have partnered to run a virtual workshop across four days in November 2024 – 7, 8, 14 & 15.

Securities Lending has been an important activity within the securities marketplace for many years. Firms that choose to lend their equities and/or bonds do so in order to earn lending fees and to enhance their investment returns. Conversely, firms that choose to borrow securities typically do so primarily to meet delivery commitments and to receive sale proceeds in a timely fashion.

However, undertaking securities lending & borrowing transactions is not without risk. The mitigation of exposures is an essential daily task, involving the regular revaluation of both the lent/borrowed security and the associated collateral. Companies are also required to make margin calls on the counterparty and settlement of such margin calls.

Additionally, corporate actions may arise which can impact the lent security and/or securities collateral.

It is therefore of paramount importance that those responsible for processing such transactions possess a clear understanding of the risks involved, their potential exposures and critically, what mitigating measures are necessary.

Workshop Outcomes

By completing the course you will be able to:

• Have a strong grasp of the fundamentals of Securities Lending and be able to explain the transaction lifecycle
• Describe the types of market participants and appreciate why these firms engage in Securities Lending, and their impact on capital markets and retail investors
• Understand the operational, legal and regulatory risks and issues involved
• Comprehend the advantages/disadvantages of using different types of collateral
• Appreciate the impact that corporate actions have on the lent security and on securities collateral
• Discover some relevant anecdotes and Securities Lending case studies

Who should attend?

The course is suitable for personnel working within many departments of financial institutions such as operations, middle office, risk, legal, accounting and IT. The course is applicable to buy and sell-side firms, plus those working within central securities depositories and custodians.

The course is targeted towards those currently working within a securities lending department who would benefit from an all-round understanding of the topic. In addition, those who have had limited exposure to the topic but who require a greater understanding of the relationships between their work and securities lending & borrowing.

7, 8, 14 & 15 November 2024
Time: 10:00 – 13.30 CEST / 09:00 – 12:30 BST

Venue:

Livestreamed courses are delivered via video conferencing accessed on our digital learning platform, using the most effective pedagogical approaches and incorporating interactive functions like virtual breakout rooms.

The Securities Lending live sessions are delivered in four 3.5 hour sessions over the course of two weeks. You will be given access to the course materials before the live sessions, and will have access to those for a total of three months from the first live session. During these three months you will have the option to keep working through the course materials at your own pace.

Delegate Fees:

ICMA & ISLA Members: EUR 2,100.00 + VAT (if applicable)
Non Members: EUR 2,700.00 + VAT (if applicable)

For more information on programme recognition, the syllabus and further details covered by the workshop click on the button below.