MRA and GMRA Documentation
Summary
The Master Repurchase Agreement (MRA) and Global Master Repurchase Agreement (GMRA) are standardized contracts for U.S. and non-U.S. repo transactions, respectively. They facilitate the transfer of securities for funds between a Seller and a Buyer, with a commitment to reverse the transaction later. Documentation is available through SIFMA’s Market Practices & Model Documentation Library.
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The Master Repurchase Agreement (MRA) and Global Master Repurchase Agreement (GMRA) are standardized agreements for U.S. repurchase (repo) and non-U.S. repo transactions, respectively. They are for use when parties may enter into transactions in which one party (a “Seller”) agrees to transfer to the other (a “Buyer”) securities or other assets against the transfer of funds by the Buyer, with a simultaneous agreement by the Buyer to transfer to the Seller such securities at a date certain or on demand, against the transfer of funds by the Seller.
Each agreement consists of a pre-printed master agreement that contains standard provisions and related documentation, all of which are available on this page. SIFMA also commissions legal opinions on behalf of its members.
Upon publication, all documentation is available in SIFMA’s Market Practices & Model Documentation Library.
MRA Documentation
GMRA Documentation (2000 Version)
Details
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Details
More Content
- Market Practices and Model DocumentationJul 30, 2026
Treasury Clearing Documentation
To provide market efficiency, particularly as more entities come into the clearing ecosystem, SIFMA has convened representatives from both the buy- and sell-side in working groups to develop market standard documentation. Market standard documentation for the “Done-With” model is now available. The “Done-Away” model will require changes to market structure. As part of our efforts, SIFMA’s working groups will identify those needs.