International Securities Lending Association
The International Securities Lending Association (ISLA) is a trade association established in 1989 to represent the common interests of participants in the securities lending industry. ISLA works closely with regulators across Europe and our activities embrace markets and prudential regulatory regimes as well as investor protection. In the United Kingdom, the association has representation on the Securities Lending Committee, a committee of market practitioners chaired by the Bank of England.
ISLA has contributed to a number of major market initiatives, including the development of the UK Money Markets Code and the industry-standard lending agreement, the Global Master Securities Lending Agreement (GMSLA).
ISLA has over 140 members representing more than 4,000 clients comprising insurance companies, pension funds, asset managers, banks, and custodians. The majority of ISLA's membership is located in the United Kingdom or Europe, although there is growing membership from industry participants in the United States and the Far East. Non-borrowing members have been permitted to join ISLA since September 2004.
The current chairman of ISLA is Jonathan Lombardo from Eurex Clearing.