Contractual documentation underpins day to day trading activity in our market, including master agreements such as the Global Master Securities Lending Agreement (GMSLA), that are signed at the start of a relationship. ISLA has been working to develop digital versions of its market standard master agreements; the development of an on-line digital environment will amongst other things, allow firms to produce, deliver, negotiate and execute documents, and capture, process, and store data from such documents.
In September 2021, we launched the ISLA Clause Library & Taxonomy content in collaboration with our partners, D2 Legal Technology (D2LT).
With over 175 downloads across 43 firms since launch, the ISLA Clause Library & Taxonomy is an industry-standard collection of business outcome-driven clause variants for the GMSLA 2000, 2010, and 2018, along with draft wording & required variables.
How to Access
- Full members can download the content for free from the ISLA Website.
- Via the SmartDX platform, developed by Smart Communications, for users of this platform.
- Pricing and access for non-ISLA and Associate members is available upon request.
For further information on how to become a platform partner, which allows content to be integrated on your digital content platform, contact firstname.lastname@example.org or visit the ISLA Clause Library & Taxonomy page.
ISLA is also delighted to announce that we have signed a memorandum of understanding (MoU) with Linklaters to automate the GMSLA, GMSLA ‘Pledge’, the Master Confirmation Annex (MCA), and other related documents on the CreateiQ contract management automation platform. The platform dramatically reduces the time to draft and agree documents, while creating and providing real time access to contractual data in structured format. Learn more here.
Here are some additional links you may find useful:
- A short animation, explaining what the ISLA Clause Library & Taxonomy is, and the wider benefits it will provide to the industry.
- A step-by-step guide on how to get value from the ISLA Clause Library & Taxonomy content.
- The ISLA Webinar – Legal Technology Documentation Initiatives. This catch up video, available to members, provides an opportunity to hear about future developments on the Clause Library, including proposed use cases, as well as an introductory overview for those less familiar with the concept.