Both a vital monetary policy tool and an important money market instrument, the global repo market is estimated to account for EUR 15 trillion in outstandings with an approximate EUR 3 trillion daily turnover.

The International Capital Markets Association (ICMA)’s GMRA is the standard master agreement for cross-border repos globally, as well as for the majority of domestic repo markets. The following guide is intended as a basic introduction to the 2011 GMRA.

DRS has long-standing expertise in the GMRA – its specialist teams act for a number of major financial institutions, from initial playbook-building, through document negotiation to final legal data upload.

This page will take you through everything you need to know about the GMRA from A-Z.