Usher Repo and Stock Lending

A Practitioner's Guide
1. Auflage 2015
ISBN: 978-1-78742-902-4
Verlag: Globe Law and Business
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 407 Seiten

Repo and stock lending are now global markets, covering a huge variety of underlying assets and encompassing an ever-widening range of participants, each with a different set of motivations. Their use has increased exponentially since the financial crisis began, and the markets have become more sophisticated and accessible.

This practical title features contributions from leading industry participants as well as lawyers who practise in this diverse field. The content gives an overview of the respective markets and examines products ranging from vanilla bilateral transactions to agency, tri-party, cleared and structured transactions. It also includes specialist chapters on legal and regulatory issues, documentation, tax and accounting. Together, the contributors provide in one volume a comprehensive overview of all aspects of the repo and stock-lending markets.

Whatever your role and whether you are new to the markets or a seasoned practitioner, this commercially focused title will serve as an invaluable reference tool and provide you with holistic insight into the business and law of repo and stock lending.

Autoren/Hrsg.

Usher, Guy

Fachgebiete

• Rechtswissenschaften Internationales Recht und Europarecht Internationales Recht Internationales Handels-, Wirtschafts- und Gesellschaftsrecht
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Anlagen & Wertpapiere
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Börse, Rohstoffe
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte
• Rechtswissenschaften Wirtschaftsrecht Kapitalmarkt- und Wertpapierrecht
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte

Inhaltsverzeichnis

Foreword 5
Guy Usher
Fieldfisher

Repo and securities lending: an overview 7
Iain Colquhoun
ICBC Standard Bank
Marissa Dearden
Fieldfisher

Lifecycle of transactions 23
Guy Usher
Fieldfisher

Agent lending/agency repo 41
Sarah Reid
Fieldfisher

Tri-party repo and stock lending 49
Guy Usher
Fieldfisher

Central counterparty model 53
Eric Bystrom
Director
Samit Desai
Ivelina Dimtscheva
Capco UK
Swen Werner
Securities services & collateral management expert

Structured repo transactions 69
Daniel Franks
Norton Rose Fulbright

Structured securities lending transactions 81
Daniel Franks
Norton Rose Fulbright

Legal and regulatory issues 97
Emma Spiers
Fieldfisher

Industry documentation 113
Edward Miller
Jamie Pullen
Fieldfisher

Accounting 183
Andrew Spooner
Deloitte LLP

UK taxation of repo and stock lending transactions 199
Nicholas Noble
Fieldfisher

Appendices 253

Glossary 379

About the authors 387

Index 391