About ISLA - ISLA

The International Securities Lending Association (ISLA) is the leading trade association for the securities financing industry. Our 280+ global members based in 35 jurisdictions, include beneficial owners, institutional investors, asset managers, custodial banks, lending agents, prime brokers, fintechs and service providers, spanning the breadth of the securities financing ecosystem, covering activities such as securities lending, borrowing, financing, collateral management and related digital transformation.

Our role in today’s evolving financing ecosystem is to ensure the market, legal, regulatory and operational foundations are aligned to stakeholder expectations, to support growth that is credible, transparent and resilient. We work with our members, global regulators and policy-makers, to drive clarity, certainty and best practice. Across regions, infrastructures and asset classes, the system is evolving beyond its traditional boundaries. ISLA helps members shape that evolution in a manner that is practical, coordinated and fit-for-purpose.

A Unified Global Presence

ISLA has supported the industry for 30+years and more recently in 2024, we established our affiliate, ISLA Americas. Working in collaboration with our global network of partners and peer associations, we provide a global advocacy voice for the international securities finance market, ensuring that members operating across borders benefit from a cohesive, unified approach to market evolution and regulatory change.

“ISLA fosters the growth of the securities lending and financing industry, and actively represents the long-term interests of all stakeholders”

Strategy Committee, ISLA Board of Directors

Our Core Services

Global Standard-Setting

ISLA is the custodian and architect of the internationally recognised industry standard master legal agreement for securities lending, the Global Master Securities Lending Agreement (GMSLA). We are responsible for continuous development of the the GMSLA to ensure coverage of new lending strategies and jurisdictional legal nuances. ISLA produces annually updated industry legal netting and collateral opinions for the GMSLA (both title transfer and pledged collateral models), to provide members with the essential capital efficiency, risk management and legal certainty upon which the global securities lending market transacts
Strategic Advocacy

Advocating for the critical market liquidity, efficiency and resiliency role of securities finance in the capital markets, ISLA acts as a bridge between the industry and global policymakers and regulators. We track emerging regulation, producing regulatory responses and practical strategic guidance for members, through consensus-based analysis of impacts, risks and opportunities. ISLA delivers a long-term advocacy strategy aligned to our members’ priorities, identifying relevant policy and regulatory issues, co-ordinating responses across markets and institutions, to advocate for outcomes that are credible, robust and commercially relevant.
Market Best Practices

ISLA works across members and regulators to develop consensus-based technical standards and operational guidance that underpin industry efficiency and interoperability. We translate complex regulatory requirements into actionable market best practice, to support well-functioning, frictionless markets. ISLA is the custodian of transaction reporting best practice standards for the securities lending market.
Events and Communications

Through a dynamic programme of events and an active communications strategy, we deliver a platform of engagement opportunities for members, policymakers and industry stakeholders, across the entire securities finance ecosystem. Our events, focused on market dynamics and emerging market trends, brought to you through our regional roundtables and briefings, annual flagship conferences and our ISLA Connects educational brand, offer high quality attendee experience aligned to industry priorities.

Over

30

Years Serving the Securities Lending Industry
Over

280

Industry Members Across the Value Chain
35

Jurisdictions Represented by Our Member Firms
71

Jurisdictions Covered by the GMSLA
17

Industry Working Groups & Committees
Over

2000

Attendees to our Industry Events

Watch our short video about the International Securities Lending Association (ISLA) and our role as the leading trade association for the securities financing industry.