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Green Bond Principles and Social Bond Principles Executive Committee announces 2019/2020 Advisory Council composition
11 October 2019 The Green Bond Principles and Social Bond Principles Executive Committee is pleased to announce the 2019/2020 Advisory Council composition.
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ICMA Quarterly Report Fourth Quarter 2019 now available
10 October 2019 The latest edition of the ICMA quarterly report is now available.To access the report, click here.
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Conference gathers pivotal stakeholders in Tokyo for the third time to exchange views and practical expertise on how to foster and develop the market for sustainable finance instruments
9 October 2019 The International Capital Market Association (ICMA) and the Japan Securities Dealers Association (JSDA) held their third joint conference on the “Developments in Green, Social, and Sustainability Bond Markets—Japan and Asia” at the Hotel New Otani in Tokyo.Building on the strong interest...
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ICMA launches CSDR buy-in impact study for bond markets
30 September 2019 Following its 2015 bond market impact study, ICMA is conducting a more granular study to ascertain market awareness, preparedness, concerns, and expected impacts on bond market pricing and liquidity. The new study uses three separate online surveys, targeted at: (i) Sell-side trading...
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ICMA ERCC publishes updated memorandum outlining recommendations for repo market best practice to address transition from EONIA to €STR on 1 October 2019
27 September 2019 The ICMA ERCC has today published an updated memorandum outlining recommendations for repo market best practice to address the transition from EONIA to €STR on 1 October 2019. View the memorandum.
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ICMA publishes update to primary markets technology mapping directory
18 September 2019 The International Capital Market Association (ICMA) has published the second edition of its primary markets technology mapping directory which compares the key features and capabilities of 28 technology solutions (up from 22 in December last year) that are available to automate all...
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ICMA with the Green Bond Principles Executive Committee responds to European Commission's consultation on TEG report on EU Taxonomy
13 September 2019 ICMA with the Green Bond Principles Executive Committee has responded to the European Commission's consultation on the TEG report on EU Taxonomy.View the response.
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ICMA responds to ESMA's MiFID II/MiFIR review report on the development in prices for pre- and post-trade data and on the consolidated tape for equity instruments
5 September 2019 ICMA has responded to ESMA's MiFID II/MiFIR review report on the development in prices for pre- and post-trade data and on the consolidated tape for equity instruments.View the...
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New ICMA members in August 2019
The following firms were admitted to ICMA membership in August 2019: Berlin Hyp AG, Berlin; Bombay Stock Exchange Brokers' Forum (BBF), Mumbai; Invest Banca S.p.A., Florence; Nomura Securities Co., Ltd., Tokyo; Pinsent Masons LLP, London; bringing the total number of...
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ICMA ERCC responds to ESMA’s consultation on SFTR Reporting Guidelines
30 July 2019 The ICMA ERCC has submitted a detailed response to ESMA’s consultation on draft Guidelines in relation to SFTR Reporting under articles 4 and 12. The response was prepared based on feedback from the ERCC’s SFTR Task Force, which brings together more than...
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ICMA publishes briefing on the importance of integrated capital markets and CMU
29 July 2019 ICMA has prepared a short briefing paper on the importance of integrated capital markets and CMU. To access the briefing, click here.
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ICMA AMIC responds to ESMA’s consultation on possible short-term pressure from the financial sector on corporations
29 July 2019 ICMA’s Asset Management and Investors Council (AMIC) has today submitted a response to ESMA’s consultation on possible short-term pressure from the financial sector on corporations. AMIC refutes the idea that short termism is as a prevalent bias of asset managers and calls...
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ICMA with the Green Bond Principles Executive Committee responds to Bloomberg Barclays MSCI Green Bond Index consultation
29 July 2019 ICMA with the Green Bond Principles Executive Committee has responded to Bloomberg Barclays MSCI Green Bond Index consultation. View the response.
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ICMA Ops FinTech mapping directory: updated version released
10 July 2019 ICMA’s Ops FinTech Working Group (WG), a subgroup of the ERCC, has conducted a review of the FinTech mapping directory for repo and cash bond operations (and ancillary services). During Q2 2019 members of the WG reached out to vendor firms with...
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ICMA responds to the ECB's market consultation on European Distribution of Debt Instruments (EDDI)
9 July 2019 ICMA has today responded to the ECB's market consultation on a potential Eurosystem initiative regarding a European mechanism for the issuance and initial distribution of debt securities in the European Union (EDDI).View the...
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New executive education program on green bonds and sustainable finance welcomed by EM issuers
8 July 2019 A landmark in international green bond and sustainable finance education was achieved recently with the delivery of a one-week in-depth executive education course centred on green bonds. It was led by the International Capital Market Association (ICMA) and Stockholm School of Economics...
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ICMA summarises and comments on EU TEG reports and status of EU sustainable finance plan
21 June 2019 Following the publication in March 2018 of the Action Plan on sustainable finance of the European Commission, the Technical Working Group on Sustainable Finance (TEG) was established in June 2018.  ICMA, with the support of the GBP SBP Executive Committee, was...
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ICMA Future Leaders podcasts added to ICMA Podcast
Welcome to the ICMA podcast! We’ll be talking to market figures and our own experts at ICMA to get their insights about what’s happening in fixed income markets and regulation and also looking at some broader themes relating to career development.You can listen from...
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GBP & SBP publish key documents – Impact Reporting Handbook, Green Project Mapping and Guidance Handbook – and announce Advisory Council, Executive Committee election result
13 June 2019 On the occasion of the 5th Annual General Meeting and Conference of the Green & Social Bond Principles held in Frankfurt today, the Executive Committee announced publications providing key guidance to complement the Principles (the Green Bond Principles, the Social Bond Principles...
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New ICMA members in June 2019
The following firms were admitted to ICMA membership in June 2019: BofA Securities Europe Société Anonyme, Paris; ENGIE, Paris; ICBC International Securities Limited, Hong Kong; Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH, Frankfurt; and NatWest Markets N.V., Amsterdam, bringing the total number of ICMA...
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A comparative review of practices and procedures in the Russian and international primary debt capital markets - an ICMA-NFA report
5 June 2019 This bi-lingual report is focused on processes and practices in the Russian and international debt primary markets – i.e., the market in which bonds are initially offered to investors before they begin to trade freely among investors and dealers in...
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ICMA’s 3rd European IG Corporate Bond Secondary Market Study
21 May 2019 ICMA launches online buy-side and sell-side surveys as part of its 3rd European IG Corporate Bond Secondary Market Study. Members and other market stakeholders are encouraged to participate in this important initiative. All responses will be treated anonymously and only published in...
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ICMA elects new board members at Stockholm AGM
16 May 2019 Two existing board members were re-elected at the 51st ICMA AGM in Stockholm: Joanna Cound, BlackRock Investment Management (UK) Limited, London and Roman Schmidt, Commerzbank AG, Frankfurt am Main. The following new board members were elected: Amine Bel Hadj Soulami, BNP Paribas,...
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Participate in the ICMA European Repo and Collateral Council's 37th European repo market survey
All European repo market participants are invited to submit data on their repo business outstanding at close of business on Wednesday, 5 June 2019.
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ICMA publishes 2019 legal opinions on global master repo agreement
9 April 2019 The International Capital Market Association (ICMA) has today published the 2019 updates to the ICMA GMRA legal opinions which support the Global Master Repurchase Agreement (GMRA), the standard agreement for international repo transactions. Updates have been obtained only for jurisdictions which are not...
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ICMA survey shows continuing steady growth in the European repo market - market size reaches EUR 7,739 billion
4 April 2019 The European Repo and Collateral Council (ERCC) of the International Capital Market Association (ICMA) has today released the results of its 36th semi-annual survey of the European repo market. The survey, which calculates the amount of repo business outstanding on 5 December 2018,...
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ICMA with the Green Bond Principles Executive Committee responds to European Commission's consultation on the TEG preliminary recommendations for an EU Green Bond Standard
3 April 2019 ICMA with the Green Bond Principles Executive Committee has responded to the European Commission's consultation on the TEG preliminary recommendations for an EU Green Bond Standard.
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ICMA with the Green Bond Principles Executive Committee responds to IOSCO consultation on sustainable finance in emerging markets and the role of securities regulators
1 April 2019 ICMA with the Green Bond Principles Executive Committee has responded to IOSCO consultation on sustainable finance in emerging markets and the role of securities regulators.
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ICMA AMIC responds to ESMA consultation on liquidity stress testing guidelines
28 March 2019 ICMA’s Asset Management and Investors Council (AMIC) has today submitted a response to ESMA’s consultation on liquidity stress testing in UCITS and AIFs. AMIC is supportive of ESMA’s overall approach. However, AMIC cautions that some implementation time is necessary for firms to...
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New ICMA members in March 2019
The following firms were admitted to ICMA membership in March 2019: Advokatfirmaet BAHR AS, Oslo; African Export Import Bank, Cairo; Banca Credinvest SA, Lugano; Barclays Bank Ireland PLC, Dublin; Broadridge Financial Solutions Limited, London; Central Securities Depository (GH) Limited, Accra; CMS Hasche Sigle Partnerschaft von...
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Amendments to the ICMA Primary Market Handbook published
26 March 2019 Amendments to the ICMA Primary Market Handbook have been published today. For more information, see the ICMA Primary Market Handbook - Amendments/archive page.The associated circular to members is available here for ICMA members and ICMA Primary Market Handbook subscribers only (login...
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ICMA is delighted to have been able to contribute to the LMA, APLMA and LSTA's new Sustainability Linked Loan Principles
20 March 2018 ICMA is delighted to have been able to contribute to the LMA, APLMA and LSTA's new Sustainability Linked Loan Principles.
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ICMA CIF reponds to ESMA consultation paper - Guidelines on Disclosure Requirements applicable to Credit Ratings
18 March 2019 ICMA Corporate Issuer Forum (CIF) has reponded to ESMA's consultation paper - Guidelines on Disclosure Requirements applicable to Credit Ratings.View the...
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ICMA ERCC responds to BCBS consultation on leverage ratio disclosure
13 March 2019 The ICMA ERCC has today responded to a consultative document published by the Basel Committee on Banking Supervision (BCBS), on proposed revisions to leverage ratio Pillar 3 disclosure requirements to include disclosures of the leverage ratio exposure measure amounts of SFTs, derivatives...
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Japan Securities Summit held in London for the fifth time
4 March 2019 (LONDON, UK – TOKYO, Japan) The International Capital Market Association (ICMA) and the Japan Securities Dealers Association (JSDA) held their joint conference, the “Japan Securities Summit”, for the fifth time in London at the Mansion House.The summit, held against a backdrop...
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New ICMA members in Febuary 2019
The following firms were admitted to ICMA membership in February 2019: Bank of Ghana, Accra; Barclays Bank UK PLC, London; Basler Kantonalbank, Basel; Industrial and Commercial Bank of China Limited, Beijing; Islamic Development Bank, Jeddah; Kotak Mahindra (UK) Limited, London; South Street Securities LLC, New...
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Results of the 2019 ICMA European Repo and Collateral Committee elections
We are pleased to announce the results of the 2019 ICMA European Repo and Collateral Committee elections. The 19 individuals that were elected to the new ERCC Committee are listed below. The term of office of the new Committee will be approximately one year starting...
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Registration opens for the 51st ICMA Annual General Meeting and Conference, May 15 to 17 2019, Stockholm
With over 1,100 attendees from both the buy and sell-side, the ICMA AGM and Conference is the leading event for the international fixed income market. Join us in Stockholm this May, for our 51st annual meeting and meet leaders from the global market under one...
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ICMA publishes briefing note on ESMA statement on the use of UK data in ESMA databases and performance of MiFID II calculations in case of a no-deal Brexit
6 February 2019 ESMA published a statement yesterday on the use of UK data in ESMA databases and the performance of MiFID II calculations under a no-deal Brexit. An ICMA briefing note summarizes the key points with respect to bond markets.
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ICMA AMIC responds to IOSCO consultation on leverage in investment funds
1 February 2019 AMIC has today responsed to a consultation report by the International Organization of Securities Commissions (IOSCO) on leverage in investment funds. In its response, AMIC welcomes the focus by IOSCO on each fund level on the potentially risky activities of asset managers...
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ICMA AMIC issues guide to due diligence requirements for investing in a securitisation position
31 January 2019 The ICMA’s AMIC has issued a guide to due diligence requirements for investing in a securitisation position. The guide is designed as a starting point for new investors who are interested in securitisation to understand the new due diligence requirements which came...
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ICMA launches Green Bond Principles and Social Bond Principles Helpdesk
ICMA is pleased to announce the launch of the Green Bond Principles and Social Bond Principles Helpdesk.The Helpdesk offers free guidance for members of the International Capital Market Association and for the Green Bond Principles and Social Bond Principles members and observers.
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Frequently Asked Questions on Repo updated
17 January 2019 The Frequently Asked Questions on Repo have been updated.View Frequently Asked Questions on Repo.
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ICMA ERCC publishes a briefing note on the European repo market at 2018 year-end
15 January 2019 This report documents and analyses repo market behaviour through 2018 year-end. Compared with the previous two year-ends, 2018 was relatively uneventful. Core Euro GC and specials did come at a premium leading up to the turn but then cheapened significantly into year-end...
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ICMA AMIC publishes joint paper with EFAMA on investment fund liquidity stress tests
8 January 2019 The Asset Management and Investors Council (AMIC) and the European Fund and Asset Management Association (EFAMA) have published a joint report on Liquidity Stress Testing (LST) in investment funds. The report highlights the role of stress tests as an important risk management...
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New ICMA members in January 2019
The following firms were admitted to ICMA membership in January 2019: BNP Paribas Securities Services, Paris; Capula Investment Management LLP, London; Export Development Canada, Ottawa; ICICI Bank Limited, Mumbai; JPMorgan Asset Management (UK) Limited, London; Kerdos Investment-AG TGV, Düsseldorf; Nivaura Ltd, London; Tokai Tokyo Securities...
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Updated version of the ICMA ERCC Guide to Best Practice in the European Repo Market now available
21 December 2018 ICMA has today published an updated version of the ICMA ERCC Guide to Best Practice in the European Repo Market along with a consolidated blackline of amendments to the Guide since it was previously updated in December 2017.Download the ICMA ERCC...
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Amendments to the ICMA Primary Market Handbook published
19 December 2018 Amendments to the ICMA Primary Market Handbook have been published today. For more information, see the ICMA Primary Market Handbook - Amendments/archive page.The associated circular to members is available here for ICMA members and ICMA Primary Market Handbook subscribers only (login...
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ICMA publishes primary markets technology mapping directory
18 December 2018 The International Capital Market Association (ICMA) has launched a comparative mapping of electronic primary bond markets solutions. The ICMA primary markets technology mapping directory compares the key features and capabilities of over 20 technology solutions that are available for a range of...
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Post-crisis regulation requires further evaluation as it could be detrimental for repo and securities lending markets finds GFMA and ICMA market assessment
17 December 2018 The Global Financial Markets Association (GFMA) and the International Capital Market Association (ICMA) have today published a report, The GFMA and ICMA Repo Market Study: Post-Crisis Reforms and the Evolution of the Repo and Broader SFT Markets, which assesses the impact of...
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IFL Essay Competition winner 2018
This summer ICMA asked young professionals with a maximum of 8 years of experience in financial markets to write an essay on the broad theme ‘How will the international bond markets look in 10 years’ time?’, in time for ICMA’s 60th anniversary in 2028.
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Joint associations letter to Vice-President Dombrovskis on Temporary Equivalence and Recognition in relation to UK CCPs
7 December 2018 The International Swaps and Derivatives Association (ISDA), Futures Industry Association (FIA), Association for Financial Markets in Europe (AFME) and International Capital Markets Association (ICMA) have written to the European Commission to welcome the statement regarding temporary equivalence for the purpose of recognition...
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New report from ICMA shows European bond markets still waiting to experience the benefits of MiFID II implementation
6 December 2018 ICMA has today published a report on the impacts and challenges of MiFID II/R for the international bond market in the year since the implementation date.The introduction of the second Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) on...
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Adopting International Practices of Bond Trustee Arrangements in China - An ICMA and NAFMII publication
5 December 2018 NAFMII and ICMA have published a guide which sets out international bond trustee arrangements and its application worldwide along with global practices of bond trustee services. ‘International Practices of Bond Trustee Arrangements’ serves to highlight how a bond trustee structure, adapted to...
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ICMA publishes Brexit FAQs
ICMA has published its responses to Frequently Asked Questions (“FAQs”) that have been raised with ICMA in the light of the UK’s proposed exit from the European Union (“Brexit”).
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ICMA AMIC publishes its latest AMIC Review publication
ICMA’s Asset Management and Investors Council (AMIC) issued its latest AMIC Review publication which is now in its third edition. The purpose of the Review is to highlight the role of the buy-side community within ICMA, to remind market participants of the objectives of AMIC...
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ICMA AMIC survey on FICC research unbundling
23 November 2018 ICMA’s Asset Management and Investors Council (AMIC) today issued the results of the second AMIC FICC Research Unbundling survey. The purpose of the survey is to help improve market clarity on this topic, identify remaining challenges, difficulties and outstanding issues in the...
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New ICMA members in November 2018
The following firms were admitted to ICMA membership in November 2018: National Bank of Bahrain BSC, Manama; Dorsey & Whitney LLP, Hong Kong, bringing the total number of ICMA members to 551 members in 62 countries. Click here to view the full list of ICMA...
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ICMA Legal and Documentation Committee responds to ARRC consultation regarding more robust LIBOR fallback contract language for new issuances of USD-LIBOR floating rate notes
16 November 2018 The ICMA Legal and Documentation Committee has responded to the ARRC consultation regarding more robust LIBOR fallback contract language for new issuances of USD-LIBOR floating rate notes.View the...
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European repo market continues to grow with latest ICMA survey indicating baseline market size at record EUR 7,351 billion
17 October 2018 (London, UK) The European Repo and Collateral Council (ERCC) of the International Capital Market Association (ICMA) has today released the results of its 35th semi-annual survey of the European repo market. The survey, which calculates the amount of repo business outstanding on...
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Save the date! 2019 Green and Social Bond Principles Annual General Meeting and Conference
Save the date – ICMA is pleased to announce that the 2019 Green and Social Bond Principles Annual General Meeting and Conference will be held in Frankfurt on 13 June 2019 and will be co-hosted by the Green and Sustainable Finance Cluster Germany.
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