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Market infrastructure
ICMA is closely involved in various initiatives related to the evolving financial market infrastructure in the post-trade space in Europe and globally, mainly through its ERCC Operations Group. The main related initiatives that ICMA has been involved in or has contributed to are the following:

European Post-Trade Forum (EPTF)
ECB Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo)
CPMI-IOSCO principles for financial market infrastructures

Past initiatives

Expert Group on Market Infrastructure (EGMI)

European Commission’s Clearing and Settlement Advisory and Monitoring Expert Group (CESAME)

Code of conduct on clearing and settlement
European Market Infrastructure Regulation (EMIR)
Harmonisation of securities lawCSDR: Migration to T+2

Related issues:

Primary markets:

Secondary markets:


Alexander Westphal
Director, Market Practice and Regulatory Policy, Secretary to the ICMA European Repo and Collateral Council (ERCC)
Direct line: +44 20 7213 0333