ISLA publish new set of standards for data aggregation
07 September 2020 London
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The International Securities Lending Association (ISLA) has published industry guidance for securities lending performance measurement.
ISLA has released a new set of standards and best practice guidelines in respect of data aggregation and calibration of performance-related metrics for securities lending.
The standards set out in the guide have been developed by ISLA’s Securities Lending Performance Measurement (SLPM) working group which was formed 18 months ago and is chaired by Scott Baker of Abu Dhabi Investment Authority.
The goal of this initiative is to improve the quality of performance measurements, programme restriction costs and peer comparisons.
The best practice guide defines the standards and best practice in respect of both data aggregation and calibration of performance-related metrics.
According to ISLA, the consultation paper will ultimately lead to “greater transparency”.
The paper will begin to provide greater clarity on the level of returns generated and ultimately how constraints on how a lending programme can impact performance.
The association notes: “Transparency is driven by reliable and consistent data which, of course, enables us to see future opportunity."
Elsewhere, ISLA published a new Shareholders Rights Directive (SRD II) guide for members last month.
Clifford Chance was appointed to review how the revised directive would apply in several securities lending scenarios which came into effect on the 3 September.
The full consultation paper for securities lending performance measurement can be found here.
ISLA has released a new set of standards and best practice guidelines in respect of data aggregation and calibration of performance-related metrics for securities lending.
The standards set out in the guide have been developed by ISLA’s Securities Lending Performance Measurement (SLPM) working group which was formed 18 months ago and is chaired by Scott Baker of Abu Dhabi Investment Authority.
The goal of this initiative is to improve the quality of performance measurements, programme restriction costs and peer comparisons.
The best practice guide defines the standards and best practice in respect of both data aggregation and calibration of performance-related metrics.
According to ISLA, the consultation paper will ultimately lead to “greater transparency”.
The paper will begin to provide greater clarity on the level of returns generated and ultimately how constraints on how a lending programme can impact performance.
The association notes: “Transparency is driven by reliable and consistent data which, of course, enables us to see future opportunity."
Elsewhere, ISLA published a new Shareholders Rights Directive (SRD II) guide for members last month.
Clifford Chance was appointed to review how the revised directive would apply in several securities lending scenarios which came into effect on the 3 September.
The full consultation paper for securities lending performance measurement can be found here.
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