Setting standards internationally

The International Capital Market Association (ICMA) is a unique organisation and an influential voice for the global capital market. It represents a broad range of capital market interests including global investment banks and smaller regional banks, as well as asset managers, exchanges, central banks, law firms and other professional advisers. ICMA’s market conventions and standards have been the pillars of the international debt market for almost 50 years.

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News in brief

Global standard qualification for the fixed income market revised and re-launched
ICMA Executive Education has completely revised its long established premium qualification for the fixed income market and re-launched it as the ICMA Fixed Income Certificate (FIC). The programme is available in both a classroom based and online format. Registration for both is now open.
To view the full syllabus and course details, please click here.
ICMA publishes two studies which highlight the effect of regulation on capital market activity
24 February 2015 (London, UK) The International Capital Market Association (ICMA), the trade body for participants in the cross border debt capital markets, has today published two separate studies which highlight the continuing cumulative effect of regulation on the ability of financial markets to support economic growth. To view the press release, click here.
To view the 28th ICMA ERC European repo market survey, click here.
To view the ICMA Impact Study for CSDR Mandatory Buy-ins, click here.
Is Japan’s revitalisation real and sustainable? Representatives from the finance industry and the capital markets in Europe and Japan discuss progress and the issues
12 February 2015 (London, UK – Tokyo, Japan) Top representatives from the finance industry and capital markets in Europe and Japan gathered at the Mansion House in London yesterday for the Japan Securities Summit, a unique event co-organised by the Japan Securities Dealers Association (JSDA) and the ICMA.
To view the press release, click here.
Trade bodies launch guide to best practice for EU corporate private placement market
11 February 2015 The Pan-European Private Placement Working Group (PEPP Working Group) led by the ICMA has launched the Pan-European Corporate Private Placement Market Guide. The Guide sets out a voluntary framework for common market standards and best practices which are essential for the development of a Pan-European Private Placement market aimed at providing medium to long term finance to European mid-sized companies, in close alignment with the European Commission’s goal of bringing about a Capital Markets Union.
To view the press release, click here.
To download the guide, click here.
Employment Opportunity
19 January 2015 ICMA is seeking to recruit an Associate, Business Development, within its Membership team, working in ICMA’s London office.
For more information, click here.
ICMA is pleased to welcome the following new members in January 2015:
Adamant Capital Partners Jsc, Sofia
Ahorro Corporación Financiera, S.V., S.A., Madrid
Liquidity Finance LLP, London
Orrick, Herrington & Sutcliffe (Europe) LLP, London
Shanghai Clearing House, Shanghai
Click here to view the full list of ICMA members.

ICMA now has 467 members in 55 countries.

Market Practice & Regulatory Policy

NEW: Private Placements
A new ICMA website section has been created, dedicated to private placements including model transaction documentation and a market guide. Click here to view
Bridging the growth gap

A new report  ‘Bridging the growth gap: Investor views on European and US capital markets and how they drive investment and economic growth’ has been published by AFME and BCG.

To view the report, click here.
ICMA responds to ESMA CSDR Regulation Level 2 Consultation Papers
19 February 2015 ICMA has submitted its formal response to the ESMA Consultation Papers on Technical Standards and Technical Advice under the CSD Regulation.
To view the response, click here.
ICMA responds, jointly with others, to BCBS/IOSCO’s consultation on “simple, transparent and comparable securitisations"
13 February 2015 ICMA has responded, jointly with the GFMA, the IIF and ISDA, to the BCBS/IOSCO Consultative Document on “Criteria for identifying simple, transparent and comparable securitisations".
To view the response, click here.
ICMA ERC responds to FSB Consultative Proposals on Data Collection and Aggregation
12 February 2015 The ICMA ERC has submitted its response to the FSB's Consultative Proposals on Data Collection and Aggregation.
To view the response, click here.
ICMA responds to the UK FCA’s consultation on restrictions on the retail distribution of regulatory capital instruments
27 January 2015 ICMA has responded to the FCA’s consultation on restrictions on the retail distribution of regulatory capital instruments.
To view the response, click here.
ICMA responds to the Fair and Effective Markets Review
15 January 2015 ICMA has responded to the Fair and Effective Markets Review.
To view the response click here.
ICMA responds, jointly with others, to EBA’s consultation on “simple, standard and transparent securitisations"
14 January 2015 ICMA has responded, jointly with AFME, the BBA and ISDA, to the EBA’s Discussion Paper on “simple, standard and transparent securitisations".
To view the response, click here.
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ICMA Executive Education