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.

2019 Priorities

• Bond market liquidity
• MiFID II/R implementation (particularly with respect to data and reporting)
• Market electronification and technology
• Developing the Secondary Market Rules & Recommendations
• CSDR mandatory buy-ins 
• Brexit implications for secondary bond markets
• Developing ICMA’s secondary markets franchise in the APAC region

Any member firms active in the European IG corporate bond secondary market should contact Andy Hill, secretary to the SMPC, to learn more about its objectives, work-streams, and output, as well as to participate in future meetings.

Please find minutes from the previous SMPC meetings below.

• 19 September 2018
• 3 May 2018
• 6 February 2018
• 30 November 2017
• 18 September 2017
• 2 May 2017
• 25 January 2017
• 3 November 2016
• 10 August 2016
• 17 May 2016
• 4 February 2016
• 8 October 2015
• 2 July 2015
• 26 March 2015

The minutes from the meeting held on 28 November 2018 will be published here in due course. This meeting included a preview of ICMA’s report on MiFID II/R and the bond markets; the first year, followed by a discussion with the UK’s FCA on the impacts and challenges of MiFID II/R on the European bond markets since January 2018. The full agenda for that meeting can be found here.

The next meeting of the SMPC is scheduled to be held in Paris on 19 March 2018, hosted by BNP Paribas Asset Management. Further details can be found here in due course.

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 Andy Hill or Mathilde Babel.


The current composition of the Committee

Sonali Das Theisen
Co-chair
Bank of America Merrill Lynch

Yann Couellan
Co-chair
BNP Paribas AM

Godfried De Vidts

Ruud Teeuwen    
ABN AMRO Bank N.V.
   
Christophe Marcilloux    
Amundi Asset Management

Stéphane Janin
AXA Investment Managers GS Limited

Mathieu Wadleb
AXA Investment Managers GS Limited