ICMA SMPC and Terms of reference

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Secondary Market Practices Committee (SMPC) and related Working Groups
ICMA SMPC and Terms of reference

The ICMA Secondary Market Practices Committee is an open forum for sell-side and buy-side member firms active in the international, cross-border secondary bond markets. Through open dialogue and engagement, as well as through its subsidiary working groups and work-streams, it seeks to be the representative body of the international, cross-border secondary bond markets: addressing practical issues directly relevant to market practitioners; standardising market best practice; disseminating relevant market information; and promoting the best interests of efficient and liquid markets.

2020 Priorities

Bond market liquidity (both sovereign and credit)
CSDR Settlement Discipline: including market preparedness and industry solutions
Updating the ICMA Buy-in Rules to create a contractual framework and market best practice for CSDR buy-ins
Staying abreast of ongoing developments and new initiatives in market infrastructure and technology
Advocating for and informing the developing of a European consolidated tape for bond markets
Readdressing the MiFID II/R liquidity assessments for bonds
Data ownership and use
The growing importance of the China bond market

Please find minutes from the previous SMPC meetings below.

The most recent meeting of the SMPC was held on 26 November 2019, hosted by ICMA in London. The discussions included a presentation by AXA-IM on the buy-side electronification journey toward automation, an update on ICMA’s report for the European Commission to support the development of a European consolidated tape for bond markets, the findings of ICMA’s bond market impact study on CSDR mandatory buy-ins, an overview of ICMA’s 3rd study into the state and evolution of the European IG corporate bond secondary market, and the SMPC’s priorities for 2020. The minutes from that meeting will be published here in due course.

The next meeting is scheduled for 3 March 2020, and will be held in Amsterdam ahead of the ICMA Secondary Market Forum on 4 March. If you are interested in attending or dialing-in, please contact us.

Sell-side and buy-side traders and market structure experts active in the international cross-border secondary bond markets are encouraged to participate in the SMPC meetings. Anybody interested in attending the next meeting, or wishing to learn more about the various SMPC work-streams and Working Groups, should contact us.

The current composition of the Committee

David Camara
Co-chair
Goldman Sachs International

Yann Couellan
Co-chair
BNP Paribas AM

Ruud Teeuwen
ABN AMRO Bank N.V.

Christophe Marcilloux
Amundi Asset Management

Lee Sanders
AXA Investment Managers GS Limited

Mark Watters
AxeTrading Limited

Gherardo Lenti Capoduri
Banca IMI S.p.A.

Pablo Fenoll
Banco Bilbao Vizcaya Argentaria, S.A.

Daniel Stevens
Bank of Montreal

Dominic Holland
The Bank of New York Mellon

Christian Pfund
Bank Vontobel AG

Andrew Wallhead
Barclays Capital Securities Limited

Nick Atkinson
Bayerische Landesbank

Arran Rowsell
BGC Brokers L.P.

Stephen Fisher
BlackRock Investment Management (UK) Limited

Olivier Renart
BNP Paribas London Branch

Martina Ben-Shaul
Canadian Imperial Bank of Commerce London Branch

Silas Findley
Citigroup Global Markets Limited

Heiko Goetz
Commerzbank AG

William Dawber
Commonwealth Bank of Australia London Branch

Mariano Goldfischer
Crédit Agricole Corporate and Investment Bank

Chris Orr
Credit Suisse Securities (Europe) Limited

Simon Elliott
Daiwa Capital Markets Europe Limited

Hans Henrik Duus
Danske Bank A/S

Marco Ferrari
EFG Bank AG

Goran Hoblaj
Erste Group Bank AG

Kemal Cenan
European Bank for Reconstruction and Development (EBRD)

Nicola Mercusa
European Investment Bank

Eric Heleine
Groupama Asset Management

Stephane Malrait
ING Bank N.V.

Nick Robinson
Insight Investment Management (Global) Limited

Barbara Zittucro
Intesa Sanpaolo S.p.A.

Paul Glasgow
J.P. Morgan Securities plc

Craig Colenso
Jefferies International Limited

Chris Muyldermans
KBC Bank N.V.

Antony Baldwin
LCH Limited

Aalok Gupta
Merrill Lynch International

Ruchi Gawri
Morgan Stanley & Co. International PLC

Andrew Santone
National Australia Bank Limited

Katsuko Ishizeki
Natixis

Phil Lloyd
NatWest Markets plc

Oscar Kenessey
NN Investment Partners B.V.

Andrew Bowley
Nomura International plc

Fredrik Jenestrand
Nordea Bank Abp

Tina Bach
Nordea Investment Management AB

Pauli Mortensen
Norges Bank

Bernard Meillet
Oddo BHF SCA

Lorenzo Pagani
PIMCO Europe Ltd

Robert Kliesspiess
Raiffeisen Bank International AG

Tim Cole
RBC Europe Limited

Danny Ramos
Santander Asset Management

Vincent Grandjean
Santander UK plc

Ricardo Goddard
Schroder Investment Management Limited

David Eley
Skandinaviska Enskilda Banken AB (publ)

Marc Billy
Société Générale S.A.

Nicholas Philpott
Standard Chartered Bank

Louise Drummond
Standard Life Investments Ltd.

Johan Wijkström
Swedbank AB (publ)

Paul Cable
T. Rowe Price International Ltd

Wilbur Yang
TD Securities

Sam Johnson
UBS AG

Martine Wehlen-Bodé
UBS AG

Kai Seeger
UniCredit Bank AG

Christoph Hock
Union Investment Privatfonds GmbH

Nick Bennet
Wells Fargo Bank, N.A.

Joshua Masters
Westpac Banking Corporation