ICMA’s Electronic Trading Working Group (ETWG) originates from ICMA’s Electronic Trading Council (ETC), which was established under the umbrella of the Secondary Market Practices Committee (SMPC) as a forum for members to discuss the evolving ecosystem for electronic trading in secondary bond markets. The ETC was also responsible for two important deliverables: ICMA’s much referenced mapping directory of European fixed income electronic trading platforms, which was originally created in 2015, and published in an updated version in July 2023, as well as the ground-breaking 2021 guide to definitions and best practice for bond pricing distribution.
In recent years, as e-trading has become more embedded into secondary market structure, ICMA and members began to re-evaluate the role and relevance of the ETC as a district forum within the SMPC structure, particularly with the creation of ICMA’s FinTech Advisory Committee (FinAC) and related working groups. Following consultation with members in early 2023, it was agreed that the forum would continue, but would be re-constituted, and revitalised, as a technical working group under the remit of the SMPC. Accordingly, the Electronic Trading Working Group (ETWG) is issue and output driven and more focused on the present market structure than the FinAC.
ETWG papers and reports can be found here.
Common Domain Model (CDM) can be found here.
Anybody interested in participating in ICMA’s Electronic Trading Working Group should contact Nina Suhaib-Wolf.
Contacts:
Nina Suhaib-Wolf
Director, Market Practice and Regulatory Policy
Direct line: +44 20 7213 0318
Aman Gill
Associate, Market Practice and Regulatory Policy
Direct line: +44 20 3917 3844
Georgina Jarrat
Managing Director, Head of FinTech and Digitalisation; Member of the ICMA Executive Committee
Direct line: +44 20 7213 0348
