ICMA - International Capital Market Association is pleased to announce the publication of the Digital Assets Annex, a significant new addition to the Global Master Repurchase Agreement (GMRA). The Annex is available to both members and non-members to download.
The Digital Assets Annex has been prepared as part of a joint project between ICMA and the International Securities Lending Association (ISLA), aiming to bring consistency to the legal terms used by market participants when trading certain digital assets under the GMRA 2011 and GMSLA 2010. The Annex was developed by the Digital Assets Legal Working Group run by ICMA & International Securities Lending Association (ISLA), with Clifford Chance appointed as counsel.
❇ To learn more and access the Digital Assets Annex and accompanying guidance note click here: https://lnkd.in/ewXUHhrr
The Digital Assets Annex provides a standardised framework and set of terms which can be used to document repo transactions involving digital cash, digital securities (including tokenised traditional securities), or asset-backed digital assets. The Annex clarifies that in the GMRA 2011, references to Securities includes Platform Transferred Securities, and references to cash or currency encompasses Digital Cash. The Annex also seeks to address some of the commercial considerations that arise as a result of the operational feasibility of intra-day repo transactions, which have been made possible by the shorter settlement times offered by digital assets and technological platforms.
❇ To promote ICMA members’ familiarity with the Digital Asset Annex, ICMA will partner with Clifford Chance to run a webinar in September that will provide an overview of how the Annex works and its various features, as well as an opportunity for members to ask any questions.
❇ Further details on the webinar and how to register will follow.
✴ Contact details for further information ✴
Deena Seoudy
Senior Director & Associate Counsel
Tel: +44 20 7213 0330
Email: Deena.seoudy@icmagroup.org
Keeping lawyers ahead of the curve
1moWhat a great way to make work experience meaningful. Also shout out for Highgate Wood School!