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Formal involvement in a long-established and respected community of almost 400 financial institutions active in the capital markets around the world
Access to ICMA Committees which enable direct influence in developing recommendations for best market practice and the efficient operation of the markets. The Committees also formulate guidance for members and consider policy responses to regulators:
Also:
- The European Repo Council and Committee
Since the introduction of repo as a specialised product in the international securities market, ICMA, through its European Repo Council and Committee has taken an active role in promoting the development of the international repo market. This market has a significant role in the international securities market as a whole by providing liquidity, marketability and in offering opportunities for the mitigation of credit risk.
- The Asset Management and Investors Council (AMIC)
This newly formed body represents the views of the buy-side members of ICMA, discussing asset management issues of common interest, reaching a consensus and recommending any action that ICMA should take.
- Membership of ICMA Working Groups, which combine experts from member firms and professional bodies. The Working Groups support ICMA Committees on detailed issues, formulating guidance, policy responses or the drafting of standard documentation.
Access to the work and advice of the Regulatory Policy Department
- to inform members, as early as possible, about regulatory developments and the implications for their business.
- to provide a forum in which members can meet to discuss current market practice so that standards of good market practice can develop.
- to seek a consensus among members on setting voluntary standards of good market practice, where this helps to maintain orderly markets.
- to explain members’ views to regulators; and
- to help members to implement new regulations in a cost-effective way
Members have a say in formulating ICMA’s responses to consultation papers from regulators. ICMA also works closely with other trade associations to co-ordinate industry-wide responses where appropriate.
Members receive the quarterly ICMA Regulatory Policy Newsletter and weekly updates.
Documentation and legal guidance
All ICMA members have free access to the following:
- ICMA’s rules and recommendations, which provide a framework of best practice in the secondary market; informal guidance on these rules and recommendations.
- IPMA Handbook, both on-line and hard copy, which provides standard documentation and a set of recommendations for the primary market side of the industry; informal guidance on the IPMA Handbook.
- Legal opinions on the Global Master Repurchase Agreement, which currently cover more than 60 jurisdictions. In light of the substantial cost of a single legal opinion, this service alone can justify membership for firms active in this market!
- ICMA Secretariat and other market professionals, who can discuss problems and provide guidance on issues related to the international capital markets.
- Informal legal guidance, which is often provided without charge by leading law firms in the City of London and elsewhere.
- The ICMA Members’ Register, in which all ICMA members are listed together with the contact details of key individuals.
Arbitration and conciliation services
Regional organisation and representation
ICMA has a strong regional organisation with each of the 12 regions having its own committee which meets to decide specific priorities. Members may take part in the committee of their respective region, led by an elected regional chairman.
The committee of regional chairmen reports directly to the ICMA Board, enabling the viewpoints of each region to be fully represented.
Education and training
All ICMA’s Executive Education courses are under the academic supervision of the ICMA Centre, University of Reading. ICMA Education provides a unique combination of academic expertise and the direct input of senior market practitioners. The key certificated courses, which are accredited by regulators and other academic bodies are:
ICMA Education also provides tailor made courses delivered ‘in-house’ according to members needs at substantially reduced rates versus other education suppliers.
Preferential rate for ICMA Skills training programmes.
ICMA Skills is a new training division, sitting alongside ICMA Executive Education, which specialises in training in ‘soft skills’. These courses cover sales skills for selling international debt, equity and derivative instruments; mastering mandates; improving managerial skills and attitude management strategies, amongst other topics. Using internationally experienced trainers, ICMA Skills promotes key skills training uniquely focused on conditions in the international capital markets.
Conferences and events
ICMA is committed to holding regular conferences and events with, and for, members. In this way the Association interacts with its members and provides an ideal platform for networking with all the capital market constituents which it represents. ICMA provides speakers and assistance in the
organisation of local events for members.
Regular events focused on specific areas of the market include the Primary Market Forum, a cross
market discussion platform involving investment banks, issuers, investors, infrastructure providers
and law firms.
The ICMA Annual General Meeting and related conference is an international event which allows the entire membership to gather and debate the issues of the day and to hear the views of industry experts.
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