ICMA response to IOSCO discussion paper


8 July 2022 ICMA has submitted its response to the Corporate Bond Markets – Drivers of Liquidity During COVID-19 Induced Market Stresses, IOSCO discussion paper. ICMA’s response, drafted under the guidance of its Secondary Market Practices Committee (SMPC), is predominantly from a European market perspective and offers feedback and insights on a range of topics, including liquidity during the COVID-19 induced stress, the drivers of liquidity from both a demand and supply perspective, corporate bond market structure, dealer intermediation and concentration, corporate bond heterogeneity and standardisation, the growth of electronic trading and the effects of increased transparency.

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