Global markets master agreements: An introduction

The course will provide an introduction to global market master agreements, namely the 2002 ISDA® Master Agreement (ISDA), 2011 Global Master Repurchase Agreement (GMRA) and 2010 Global Master Securities Lending Agreement (GMSLA) and the legal and transactional issues in these master agreements.

Attendees in this course will gain an understanding of the fundamental legal concepts underpinning global market transactions and the financial products within the global market that these master agreements are used for. The course will explain the key provisions and features of the ISDA, GMRA and GMSLA, the benefits of using these master agreements, the potential areas of risk, and an examination of relevant local and foreign case law.

Join us for a nine-hour course, held over three days.

When and where?

1 to 3 July 2024, 9:00 to 12:00 SAST

This course will be held remotely, most likely on Zoom – exact details will be sent to registered participants a few days before the course.

Course outline

The course will cover the following:

• The ISDA, GMRA and GMSLA structure and format
• Derivatives, repurchase transactions and securities lending transactions
• The parties to global market transactions
• Legal risks and other considerations (such as netting and set-off)
• The Insolvency Act within the context of global markets transactions
• Collateral arrangements under these transactions

Course outcomes

By the end of the course attendees should:

• Become familiar with the structure, architecture, and key provisions of the ISDA, GMRA and GMSLA
• Gain an understanding of the common transactions used for global market master agreements, how they can be used and the parties involved
• Develop a sound grasp of the fundamental legal concepts underpinning global market transactions under English law and South African law
• Develop an understanding of key legal issues relating to legal risks in these agreements
• Develop an understanding of practical issues for consideration on default and close-out of transactions
• Become familiar with key case law on global market master agreements and the legal issues stemming from it

Who will benefit from this course?

This course is aimed at junior banking and finance practitioners, junior legal practitioners, paralegals, middle-office and back-office banking and finance employees who would like to gain a basic understanding of the different types of global markets master agreements. In addition, anyone who is interested in a career in banking and finance would also greatly benefit from this course.

Presenter

Siyathokoza Ngobese is the Group Treasury Legal Counsel at FirstRand Bank. He is an admitted legal practitioner of the High Court of South Africa and provides legal and commercial structuring advice to the treasury business units of the FirstRand group in its different markets, where he advises on derivatives transactions, securities finance, structured finance and debt funding transactions. He was previously the Legal Counsel in the Financial Markets department for the Africa & Middle East cluster for an international bank. He was shortlisted for the “In-House Rising Star Award” for Law.com International’s 2023 African Legal Awards for the work he has done relating to derivatives, LIBOR transition and presentations conducted on topical legal issues relating to the African global markets.

How much?

R2,850 per person.

Certificate

A certificate of attendance from UCT will be issued to those who attend the full course.

How to sign up

Complete and submit the registration form. You will then be given the payment information. Please note that your registration is not complete until payment has been made.

One or two days before the course, we will send you the Zoom link. You will need to register and use a password to enter the virtual classroom.

Registrations close three days before the course starts.

Download the brochure.