Gilts Annex and Notes to the Annex
The International Securities Market Association (ISMA) have, in conjunction with The Bond Market Association (formerly the PSA), agreed a revised version of the GMRA, which was published in October 2000. This version replaces that published in 1995.
The UK Securities Lending and Repo Committee, chaired by the Bank of England, prepared in parallel a revised version of the annex to the GMRA dealing with the UK gilt-edged securities. This revised Annex, published in November 2000, takes account of the revised GMRA and the migration of gilts settlement from the Central Gilts Office (CGO) to CREST (which took place on 3 July 2000). A number of other changes were also made - these are listed in a memorandum published at the same time.
The Annex has, like the GMRA itself, been drafted with a view to legal, regulatory and taxation provisions applicable in the United Kingdom, and is intended to cover those matters which are thought likely to be common to most gilt repo transactions. It is not intended to limit parties’ freedom to deal with parties outside the United Kingdom or to incorporate other terms, subject to appropriate consideration of and advice on the additional issues which this may raise.
The GMRA 2000 is available for download from the TBMA
website at:
www.bondmarkets.com/agrees/global_master_repurchase_agreement.pdf. 
Memorandum,
Gilts Annex and Notes to the Gilts Annex, November 2000
