Negotiating global markets master agreements: An introduction 2025

This practical, entry-level course is designed to demystify the legal and commercial frameworks that underpin derivatives and securities financing transactions. It focuses on the negotiation and structure of key global markets agreements, namely the 2002 ISDA® Master Agreement (ISDA), 2011 Global Master Repurchase Agreement (GMRA) and 2010 Global Master Securities Lending Agreement (GMSLA).

The course blends legal insight with practical deal experience, empowering attendees to engage meaningfully with documentation in cross-border transactions.

Join us for a four-hour course, held over two days.

When and where?

26 to 27 November 2025, 14:00 to 16:00 SAST

This course will be held remotely, most likely on Zoom.

Course outline

The course will cover the following:

• The ISDA, GMRA and GMSLA structure and format
• Derivatives, repurchase transactions and securities lending transactions
• The parties to global market transactions
• Legal risks and other considerations (such as netting and set-off)
• Collateral arrangements under these transactions

Course outcomes

Participants will be introduced to:

• The purpose and architecture of global master agreements
• Key legal concepts such as netting, close-out, and representations
• Typical negotiation points and commercial considerations
• Common pitfalls and how to avoid them
• The role of these agreements in treasury, risk, and trading functions
• Current market developments, including post-LIBOR reforms and margin regulations

Who will benefit from this course?

This course is aimed at junior banking and finance practitioners, junior legal practitioners, paralegals, middle-office and back-office banking and finance employees who would like to gain a basic understanding of the different types of global markets master agreements. In addition, anyone who is interested in a career in banking and finance would also greatly benefit from this course.

Presenter

Siyathokoza Ngobese is the Group Strategic Funding Specialist in Group Treasury at Standard Bank, where he is responsible for originating, structuring and executing capital raising transactions in the global markets. A seasoned treasury professional, he brings experience from both local and international institutions, having held roles in treasury and global markets at FirstRand Bank and Standard Chartered Bank, negotiating global markets master agreements. Siyathokoza is a judge for Law.com International’s 2025 African Legal Awards, in recognition of his work on derivatives, LIBOR transition, and thought leadership through presentations on key developments in the African global markets. He is passionate about the development of African global markets and is committed to unlocking the continent’s potential through deeper integration with international financial systems.

How much?

R1,980 per person.

Certificate

A digital certificate of attendance from UCT will be issued to those who attend the full course.

SIGN UP HERE: Negotiating global markets master agreements: An introduction | UCT Law at Work