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Secondary Market Brexit Technical Working Group
The objective of the TWG is to provide an ongoing “space” for ICMA members active in the secondary bond and repo markets to identify, raise, and discuss key technical Brexit related issues that can be addressed through cross-industry engagement and coordination. Members of the TWG include sell-side and buy-side bond and repo traders, market structure specialists, and Brexit-related technical and operational experts.

If you or your firm would like to participate in the Secondary Market Brexit TWG, or would like to learn more about its scope and objectives, please contact the SMPC secretariat. Observers from other associations are also welcome.

July 2019
ICMA’s SMPC and ERCC are maintaining a directory of member firms contact details* for relevant in-house experts for Brexit related issues affecting secondary bond and repo markets. If you wish to include your own firm’s contact details, please contact us.

April 2019
The first call of ICMA Secondary Market Brexit Technical Working Group was held on 11 April 2019. A note of that call can be found here.

Proposed action points arising from the call included:
  • ICMA to reach out to members to compile a directory of firms’ relevant Brexit contacts for bonds and repo.
  • If enough interest, ICMA to organize a member forum for trading venues to present and update on Brexit plans.
  • Again, depending on member interest, ICMA to organize a similar Brexit forum for CCPs.


Andy Hill
Senior Director, Market Practice and Regulatory Policy; secretary to the Secondary Market Practices Committee and also responsible for overseeing repo policy.
Direct line: +44 20 7213 0335