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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.

The ICMA Executive Committee, market practice and regulatory policy team and representatives of the Future Leaders Committee have chosen the winning essay written by, Alexander Malitsky of TD Securities, who will receive the €3,000 prize and also have the opportunity to present his paper to the ICMA Board.

Alexander introduced his essay as “another boring big data paper from a millennial telling me how Snapchat will take over the global bond markets”. Of course his essay is far from boring, refreshingly challenging the current status quo of (under)usage of data, and presenting a realistic evolution of Debt Capital Markets anchored in more personal and insightful interactions with clients through a fully efficient gathering and categorising of any data available.

He does wonder in his conclusions whether bankers really have to invest in a clearer and more thorough data pool; whether issuers really care about the ‘true’ insights a bank has or is it actually ‘peoples business’ and soft selling skills are actually much more important than the thorough analysis of investor behaviour and markets; and more importantly whether it is really going to lead to more mandates and more business. Interesting discussion points for the ICMA Board to ponder looking ahead at the next 10 years.

AGM 2020

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