ICMA Workshop: Professional Repo and Collateral Management

This annual event, presented by the ICMA European Repo and Collateral Council, has established itself as the repo industry’s principal educational forum. The course is built around a core of regular topics, supplemented by presentations on developments in market conditions, infrastructure and regulation, which are delivered by experienced practitioners and major service-providers. It starts with a thorough introduction to the repo instrument and market, which looks at the essential mechanics of the instrument, and its legal and economic foundations. The main types and variants of repo are also reviewed. Other core topics include the methodology of the risk and operational management of repo, with specific reference to the provisions of the Global Master Repurchase Agreement (GMRA) and the new Guide to Best Practice, as well as accounting and taxation treatment. The roles of key infrastructures such as CCP and tri-party agents are also examined and there is an overview of the pivotal role of repo in the markets for cash securities and derivatives.