To ensure we meet your expectations and maximise your return on training investment, we favour a classroom/workshop set up for the delivery of our courses. Please note we have therefore limited number of spaces available and these will be assigned on a first come, first accepted basis. We recommend early booking to avoid disappointment.

“Includes two case studies and two practical negotiation exercises…”

ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc. The programme is neither sponsored by nor affiliated with the International Swaps and Derivatives Association, Inc.

How will you benefit?

It was recently reported that the European repo market has exceeded the US repo market in volume terms for the first time. European repo has therefore come of age, and day one of this training course describes the main repo products and looks at the markets that use them. The course will provide an indepth review of the provisions of the main agreement used – The TBMA/ISMA Global Master Repurchase Agreement (2000).

Day two will cover the important securities lending market and documentation (particularly the new Global Master Securities Lending Agreement 2010) together with the transaction life cycle of the products and risks involved. A practical negotiation exercise and additional experienced trainer are also new features of this popular training workshop

• Gain insight on the nature and uses of repo products, risks and legal issues

• Understand the differences between repos and securities loans

• Review in depth the TBMA/ISMA GMRA (2000) and the new GMSLA (2010) – be at the cutting edge

• Discuss the transaction life cycle of securities lending products

• Translate theory into hands-on techniques through two case studies and two practical negotiation exercises

About your expert trainers:

Paul Harding has been involved in derivatives documentation since 1990 and was a well known negotiator with Barclays Capital Securities Ltd. and Hill Samuel Bank Ltd. where he was Head of Treasury Documentation. In 1997 he founded Derivatives Documentation Ltd., a derivatives consultancy and project management company based in London and providing negotiation, recruitment, and in-house and online training services. Its clients include many of the world’s leading banks. Paul has written books on the ISDA® Master Agreements (1992 and 2002 versions), ISDA® Credit Support Documentation, Repo Master Agreements and the 2003 ISDA® Credit Derivatives Definitions.

John O’Neill has over 25 years experience in trading, positioning, risk management and business support process in the following markets: Foreign exchange, treasury and money markets, UK equities, fixed income, exchange traded and OTC derivatives, and structured products. Previous roles include senior positions in Europe and Asia with Bankers Trust International Ltd., Bank of America International, Security Pacific Hoare Govett and Continental Bank NA Chicago. For the last 15 years, he has been the lead partner in the development of ‘The Facilitators’ a specialist training consultancy in OTC derivatives and securities and their operational processes. John is an accredited trainer under the FSA and Securities Institute for the Investment Administration Qualifications (IAQ’s) and the Operational Diploma. He is also a member of the Securities Institute examination panel for the Advanced Operational Risk Management Qualification.

Pre-course questionnaire:

A detailed questionnaire will be sent to all course participants to establish exactly where the group training needs lie. The completed forms will be analysed by the course leader/trainer and followed by telephone if further clarification is required. As a result we can guarantee that the course is pitched at exactly the right level and that the issues that you regard as relevant are addressed. The course material will reflect these issues and will enable you to digest the subject matter after the event in your own time.

Who should attend?

From Financial Institutions, Investment Banks, Investment Houses, Hedge Funds, Corporations, Legal Firms, Consultancy Groups and Regulators: Practitioners in legal, compliance, documentation and trading roles:

• Repo & Money Markets

• Capital Markets

• Collateral Management

• Securities Lending

• Treasury

• Equity, Bond & Securities Financing

• Fund Management

• Clearing & Settlement

• Middle Office & Back Office