This new third edition offers readers a detailed guide to the most broadly used European and US repo master agreements all in one book.
It is a comprehensive guide that also includes a summary of recent developments in the European and US repo markets since 2012. Key benefits of this book:
- Readers will gain a detailed understanding of how the repo market works
- A thorough overview of the crucial European and US legal issues that occur for repos
- An in-depth knowledge of the main European and US repo master agreements, along with detailed knowledge of one of the main triparty
repo agreements used in the US market.
- Detailed commentary on the main European and US repo master agreements in one place
- A useful overview of the market's mechanics and its legal landscape
This guide is aimed at lawyers and paralegals who negotiate ICMA and SIFMA repo master agreements. Professionals in the European and US securities markets that need to know and understand the contents of these master agreements can also find this book very useful. This text is also recommended for asset managers, companies that act as buyers such as lenders (pension funds, insurance companies and money market funds), companies that act as sellers, sales people, traders, executives, back office operations and credit officers.
About the Authors
Paul C. Harding is a graduate of the University of London, and has worked in several UK and foreign banks in London, in credit, marketing and documentation roles. Since 1990 he has been involved with derivatives documentation. He was a well-known negotiator in the City of London with Barclays Capital Securities Limited and Hill Samuel Bank Limited, where he was Head of Treasury Documentation.
In February 1997 he founded Derivatives Documentation Limited, a derivatives consultancy and project management company, based in the City of London and providing negotiation, recruitment and in-house training services in derivatives documentation (website: www.derivsdocu.com). Its clients include many of the world's leading banks. Since 2000 the company has also done considerable repo documentation training.
In November 2001 Paul's book Mastering the ISDA Master Agreement was published by Financial Times-Prentice Hall. This was followed by his Mastering Collateral Management and Documentation, written in conjunction with Christian Johnson, which was published by Financial Times-Prentice Hall, in November 2002. His book on the 2002 ISDA Master Agreement was published in December 2003 also by Financial Times-Prentice Hall, and in 2004 the first edition of A Practical Guide to using Repo Master Agreements by Paul Harding and Christian Johnson was published by Euromoney Books.
Christian Johnson is the Dean of Widener University Commonwealth Law School and has coauthored five books with Paul Harding on the documentation and regulation of repos, OTC derivatives, securities lending, and capital markets. Dean Johnson is also a frequent speaker on these issues to such institutions as the CFTC, NFA, FIA, the IMF and the Federal Reserve Bank of Chicago. He has testified before the U.S. Congress on capital market reforms. In addition, he has also spoken at such institutions as Monash University in Melbourne, Osgoode Law School (York University), the National University of Singapore, the University of Hong Kong and the University of Stockholm. Dean Johnson has also done extensive training on repos for large financial institutions throughout the globe. Dean Johnson received his JD from Columbia Law School (where he was executive editor of the Columbia Law Review) and was an associate for Milbank, Tweed in New York and Mayer, Brown, in Chicago. He was also a CPA for Price Waterhouse.
