The Global Master Repurchase Agreement (GMRA), the legal documentation governing transactions in the international cross-border repo market, is now underpinned by legal opinions on its enforceability in 53 different jurisdictions, says the European Repo Council (ERC).
A recent ERC meeting in London heard that in addition to the existing 53 opinions, new territories to be added soon included Slovakia, Slovenia, Oman and Qatar. The ERC says the addition of these markets reflects the growing scope of the activities of the members of the ERC in these markets.