International Securities Lending Association

What International Securities Lending Association does

The International Securities Lending Association (ISLA) is the leading trade association for the securities financing industry, founded in 1993 and headquartered in London with a regional affiliate (ISLA Americas) in Miami. The organization serves 280+ member firms across 35 jurisdictions, spanning beneficial owners, institutional investors, asset managers, custodial banks, lending agents, prime brokers, fintechs, and service providers engaged in securities lending, borrowing, financing, collateral management, and related digital transformation activities.

ISLA's core product portfolio centers on industry standards and member-only knowledge infrastructure. The flagship standard is the Global Master Securities Lending Agreement (GMSLA), maintained and promoted by ISLA for cross-border securities lending transactions. Complementary digital offerings include the ISLA Clause Library & Taxonomy for standardized documentation, the Common Domain Model (CDM) developed in partnership with FINOS, the Best Practice Handbook (updated for T+1 and SEC 10c-1a), and the newly launched ISLA AI Search for knowledge retrieval across ISLA resources. ISLA also produces the bi-annual Securities Lending Market Report, an annual Regulatory Horizon Scanner, and maintains netting opinions across approximately 60 jurisdictions in joint exercise with ICMA.

ISLA's business model is that of a member-funded nonprofit trade association. Revenue is generated primarily through membership subscriptions (tiered by firm type and size, billed annually) and conference/event fees (delegate passes, sponsorship, exhibiting opportunities for the flagship annual Securities Finance & Collateral Management Conference, regional briefings, and ISLA Connects educational events). Engagement is delivered through standing and topic-specific working groups covering advocacy, tax, legal, regulation, and best practice, as well as formal partnerships with PASLA, ICMA, FINOS, and DEI-focused groups such as Women in Securities Finance and the ICMA Women Network.

Name

International Securities Lending Association

Legal name

International Securities Lending Association

Website

https://islaemea.org

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

The International Securities Lending Association (ISLA) is a London-based nonprofit trade association serving 280+ member firms across 35 jurisdictions in the securities financing industry, providing standards (notably GMSLA), legal opinions, market intelligence, working groups, and industry conferences.

Ownership category

akta.pro rank

Product category

Securities Financing Trade Association

NAICS

Investment Banking and Securities Intermediation (523150), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Services-Membership Organizations (8600), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Introducing Broker (IB) (FSAEACAE)

akta.pro secondary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

Keywords

• Securities lending standards
• Trade association services
• Legal documentation frameworks
• Regulatory advocacy securities
• Collateral management resources

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Membership subscriptions: Trade association funded primarily through membership fees from 280+ member firms including beneficial owners, institutional investors, asset managers, custodial banks, lending agents, prime brokers, fintechs and service providers
2. Conference and event fees: Revenue from annual conferences, regional briefings, and ISLA Connects educational events including sponsorship and exhibiting opportunities

Pricing tiers

Distribution channels3 records

Marketing channels10 records

Core offering

International Securities Lending Association (ISLA) operates as the leading trade association for the securities financing industry, offering paid membership to 280+ member firms across 35 jurisdictions. It maintains and promotes the Global Master Securities Lending Agreement (GMSLA), produces the bi-annual Securities Lending Market Report and Regulatory Horizon Scanner, publishes the Best Practice Handbook, runs standing working groups (legal, tax, regulation, digital, advocacy), and delivers the flagship Annual Securities Finance & Collateral Management Conference. It also runs ISLA Americas as a regional affiliate and provides AI Search and the Clause Library & Taxonomy as digital member resources.

Product overview

ISLA offers a comprehensive portfolio of products and services for the securities financing industry. The organization provides member-only access to legal services (including GMSLA opinions and netting opinions), regulatory guidance through the Best Practice Handbook, and market intelligence via the bi-annual Securities Lending Market Report. The ISLA AI Search tool enables efficient knowledge retrieval across resources. Key initiatives include the ISLA Clause Library & Taxonomy for standardizing business outcomes, Common Domain Model (CDM) work for digitalizing documentation, and the Securities Lending & Borrowing Hub for industry education. The ISLA Connects sub-brand focuses on DEI and professional development through networking events and educational briefings. The organization also hosts the Annual Securities Finance & Collateral Management Conference and provides regulatory thought leadership through publications like the Regulatory Horizon Scanner. ISLA Americas serves as an affiliate entity for the Americas region.

Differentiator

Problem solved

Functional benefit

Brands

• ISLA Connects: Building Networks, Developing the Next Generation of Leaders, and Sharing Knowledge initiative launched in 2023.
• ISLA Americas
• Securities Lending & Borrowing Hub
• ISLA Clause Library & Taxonomy

Products and services

• ISLA Membership Services

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and secondary.

• ISLA AmericascoreStrategic or Co-development Partner · 1 January 2024Affiliate entity created to represent the common interests of securities lending firms in the Americas region, including institutional investors, custodial and third party lending agents, prime brokers, banks and industry service providers
• PASLA (Pan Asian Securities Lending Association)coreStrategic or Co-development PartnerStrategic alliance with PASLA to develop annexes and create documentation standards for the securities lending industry across Asia-Pacific and global markets
• Climate Impact PartnerssecondaryStrategic or Co-development PartnerOngoing partnership to support sustainable projects and reduce carbon footprint as part of ISLA's environmental and social responsibility initiatives, including offsetting travel for staff and events
• The Felix ProjectOthersLondon's largest food redistribution charity; ISLA's chosen charity partner for 2024, with team volunteering activities and support for community initiatives
• Securities Finance Charity BallsecondaryOthersAnnual industry event raising funds for The International Banker's Charitable Trust and other charities including The Creative Dimension Trust, The Children's Book Project and The Spartan Project
• Women in Securities FinancesecondaryGTM or Marketing PartnerIndependent global industry group fostering connections and promoting advancement of women in securities finance; ISLA supports through ISLA Connects program
• ICMA Women NetworksecondaryGTM or Marketing PartnerGlobal forum to encourage, support and inspire women at all career stages in bond markets; ISLA collaborates on diversity and inclusion initiatives
• Blue Delta EnergysecondaryStrategic or Co-development PartnerCarbon market solutions partner for ISLA's annual conferences, supporting eco-friendly merchandise, local sourcing, and offsetting unavoidable emissions
• ICMA (International Capital Market Association)coreStrategic or Co-development PartnerJoint response to Basel III notice of proposed rulemaking with ISLA, emphasising need for capital rules to reflect operational realities of securities financing markets; annual joint netting opinions exercise covering 60 jurisdictions
• FINOS (Fintech Open Source Foundation)secondaryStrategic or Co-development PartnerISLA participates in Common Domain Model (CDM) development through FINOS, supporting standardisation of transaction events and data representation across financial markets
• Wematch.livesecondaryGTM or Marketing PartnerPartnered with Wematch.live for ISLA Connects Educational Briefing on TRS (Total Return Swaps), exploring digitisation and automation of TRS dealing workflow

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Securities Industry and Financial Markets Association (SIFMA): SIFMA is the US-headquartered broad securities industry association covering broker-dealers, banks and asset managers; its membership overlaps materially with ISLA's prime broker, dealer and asset manager members, especially across ISLA Americas.
• Investment Company Institute (ICI): ICI represents regulated investment funds globally and shares significant member overlap with ISLA on the beneficial owner / asset manager side of the securities lending market, with overlapping advocacy and research output.
• Association for Financial Markets in Europe (AFME): AFME represents European wholesale financial markets participants across capital markets, investment banking and post-trade; it competes with ISLA for EMEA voice on securities financing and collateral-related regulatory policy.
• Risk Management Association (RMA): RMA is a member-led association for credit and risk professionals at financial institutions, sharing ISLA's model of working groups, professional development and standards advocacy, though focused on credit risk rather than securities lending specifically.
• Global Financial Markets Association (GFMA): GFMA is the global umbrella for SIFMA, AFME and ASIFMA, coordinating cross-border advocacy for wholesale financial markets; it overlaps ISLA in representing the same dealer and asset manager constituency on regulatory and infrastructure matters.

Direct peers

• Alternative Investment Management Association (AIMA): AIMA is the global hedge fund and alternative investment industry association with a similar operating model of working groups, master documentation, regulatory advocacy and educational events addressing capital markets intermediaries.
• Pan Asian Securities Lending Association (PASLA): Asia-Pacific counterpart trade association for securities lending, with which ISLA has a strategic alliance to develop annexes and create documentation standards across Asia-Pacific and global markets.
• International Swaps and Derivatives Association (ISDA): ISDA is the leading global trade association for OTC derivatives and the closest analogue to ISLA in standards-body structure, master agreement maintenance (ISDA Master Agreements), netting opinions and regulatory advocacy across capital markets.
• International Capital Market Association (ICMA): ICMA is the trade association for the international capital markets (bonds, repo, securitisation) and a core ISLA partner; it operates a near-identical membership, working-group and legal-opinion model for adjacent asset classes.

Emerging players

• Futures Industry Association (FIA): FIA represents the listed derivatives and clearing ecosystem and shares ISLA's member overlap (prime brokers, clearing banks, asset managers); it competes for sponsorship, conference attendance and standards influence in collateral-related workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/__isla
• YouTubeyoutube.com/channel/UCmzSfy6zWL_EHGyWYqvmeDQ
• LinkedInlinkedin.com/company/international-securities-lending-association

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about International Securities Lending Association