Early Warning Signs

Recognise signs of deteriorating counterparties before defaults occur

Key Repo Default Mechanics

Understand the GMRA and GMSLA implications during default scenarios

Operational and Legal Preparation

Prepare for default scenarios with effective operational and legal strategies

About the Course

When a counterparty defaults in the repo market, everything accelerates. Margin calls, collateral disputes, fire-sale pricing, legal escalations—and all in the middle of a liquidity squeeze. Most teams think they’re prepared. Until they’re not. This course is your front-row seat to how default management actually works in repo markets—through the eyes of the people who’ve been inside the room when it happened. In this focused 4-hour live session, we’ll go deep into the process, documentation, operational risks, and decision-making involved in handling a repo counterparty default—whether bilateral or centrally cleared. You’ll learn how events unfold, what the GMRA actually provides for (and doesn’t), and how to prepare your own firm to respond quickly and cleanly. 🧠 Not Theory — First-Hand Insight from Those Who’ve Lived It This isn’t a dry legal webinar or a high-level risk overview. You’ll hear directly from market insiders who’ve managed real-world defaults during the most volatile periods in recent financial history: Danny Corrigan – directly responsible for managing the default of Lehman Brothers in 2008 at LCH. Danny brings unparalleled insight into CCP governance, the default waterfall, and the operational and market stresses triggered by a large default. Jonathan Pyzer – Former Senior Adviser to the Bank of England during the 2008 Global Financial Emergency. Jonathan will share how central banks coordinate and respond to systemic risk, and the evolving expectations around market preparedness. Glenn Handley – Former repo desk head and member of the LCH Default Management Group,  Glenn has been on the front lines of real repo counterparty events. Now the founder of SecFin Solutions, Glenn trains and advises institutions on regulatory readiness, market structure, and secured financing strategy. This course draws on decades of lived experience across market cycles. ⚠️ Why This Course Now? Market signals are flashing again. With higher rates, tighter liquidity, rising concentration risk, and cracks appearing in non-bank financials, the risk of a default event is rising. Yet most firms haven't tested or refreshed their response plans in years. Default doesn’t just affect the legal team. It involves front office, risk, operations, credit, legal, treasury, and senior management. This course will show you what happens across those functions—and how to be prepared before the stress hits.

About the Creator

Glenn Handley is the founder of SecFin Solutions, a consultancy and education platform specialising in securities finance, repo markets, and regulatory strategy. With over 34 years of experience in global markets, Glenn has held senior roles at major international banks, including leadership of repo and secured funding desks at HSBC. He has worked across trading, liquidity management, and regulatory engagement, giving him a 360° view of how market structure, regulation, and risk management intersect in practice. Glenn has served as a member of the Default Management Group at LCH,  Co-Chaired  the Bank of England’s Money Markets Code Committee, and advised banks, central banks, law firms, and infrastructure providers on complex repo-related challenges—including default scenarios, documentation, and balance sheet optimisation. Today, Glenn is a respected educator and speaker, known for translating complex financial regulation and trading mechanics into practical insight. His Advanced Repo Trading & Securities Lending course is widely regarded across the industry, and his thought leadership spans topics from mandatory clearing to NBFI reform and the evolving liquidity ecosystem. Whether training market participants or consulting on strategic issues, Glenn’s work is grounded in real-world experience, deep technical knowledge, and a commitment to practical impact.

Course Curriculum

5 Chapters · 5 Lessons

  1. 1

    Introduction to Default Risk

    1. (Included in full purchase)

      Understanding Key Players

  2. 2

    Preliminary Signs of a Default

    1. (Included in full purchase)

      Coordination Across Teams

  3. 3

    Legal Frameworks in Default Scenarios

    1. (Included in full purchase)

      Rights and Obligations

  4. 4

    Mechanics of Default Resolution

    1. (Included in full purchase)

      Collateral Liquidation Processes

  5. 5

    Strategic Preparedness & Best Practices

    1. (Included in full purchase)

      Building Governance Frameworks

Student Testimonials

Discover how our course has helped professionals like you gain confidence in managing repo market defaults.

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Text-only testimonials are quick to scan and can highlight the value of your product at a glance.
Jessica L.

Las Vegas, NV

The combination of text and imagery make the testimonial feel more personal and credible.
Ashley T.

Working mom

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Finally, a handbook that makes photography feel simple! It covers everything from camera settings to post-processing in a way that actually makes sense.
Anna W.

Amateur photographer

Ready to Enhance Your Default Management Skills?

Enroll now to gain valuable insights and practical knowledge to navigate repo market challenges with confidence.

£500.00

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