Mastering Securities Lending Documentation (Paperback)

Securities lending master agreements are vital for covering securities loans between contracting parties. They also offer legal and credit protection and a close-out netting procedure if a party defaults or goes bankrupt. These agreements are widely used by banks, securities houses, pension funds, hedge funds and insurance companies.

Mastering Securities Lending Documentation is a practical guide to understanding the negotiation of these master agreements used in the United Kingdom, United States and Europe. It is an essential handbook for anyone involved in negotiating these agreements and includes:

• An introduction to the history and operations of the market
• A clear, user-friendly explanation of all paragraphs of the master agreements
• An easy-to use split page format with the original text and commentary
• Examples of commonly negotiated additions and amendments and their implications
• Answers to legal, risk and operational questions

Paul Harding is the founder and managing director of Derivatives Documentation Limited, a derivatives consultancy and project management company based in the City of London providing negotiation, recruitment and in-house training services in derivatives documentation. He has also written A Practical Guide to the 2003 ISDA Credit Derivatives Definitions and A Practical Guide to Using Repo Master Agreements (Euromoney Books, 2004).

Christian Johnson has taught courses on finance, derivatives and tax for thirteen years and has published 4 books and over 36 articles on these topics. His three books on OTC derivatives and repo documentation have become standard texts in the area. Professor Johnson has provided training on OTC derivatives, repos and securities lending for large institutions such as ABN AMRO, Wachovia, and other large financial institutions. He also teaches across the globe on a regular basis for Euromoney where he has given courses on repos and securities lending in London and Johannesburg.