International Capital Market Association
Acronym: ICMA
General Information
Identification Code: 0223480577-59
Website: [object Object]
Entity Form: ICMA is established as an association under the laws of Switzerland with independent legal capacity
Registration Category: Trade and business associations
Registration Date: 10/30/2008
Last Update: 4/29/2024
EP Accredited Number: 2
Mission & Interests
Goals: ICMA is the trade association representing the financial institutions active in the international capital markets worldwide. ICMA represents global interests with a pan-European focus.
The objectives of the Association are: (i) to promote good relations among its members and to provide a basis for joint examination and discussion of questions relating to the international capital and securities markets and to issue rules and make recommendations governing their operations; and (ii) to provide services and assistance to participants in the international capital and securities markets.
ICMA's market conventions and standards have been the pillars of the international debt market for over 50 years, providing the self regulatory framework of rules governing market practice which have facilitated the orderly functioning and impressive growth of the market. ICMA actively promotes the efficiency and cost effectiveness of the capital markets by bringing together market participant (...)
Interests Represented: Promotes their own interests or the collective interests of their members
Interests:
- Banking and financial services
- Consumers
- Economy, finance and the euro
- Justice and fundamental rights
- Single market
Levels of Interest:
- global
- european
Activities
Main EU Legislative Proposals: ICMA concentrates on cross-border, rather than domestic, market practice and regulatory issues because that is where, as a trade association with a global and pan-European focus, ICMA can add most value for its members.
Main EU initiatives, policies and legislative files currently followed by ICMA include (list not exhaustive):
- Developments and regulation around sustainable finance / green & social bonds;
- FinTech developments;
- Discrepancy risks associated with post Brexit developments;
- Capital markets union (CMU);
- CRR/CRD, which includes leverage ratio, NSFR & FRTB;
- Investment Firm Review (IFR);
- Prospectus Regulation implementation and revision;
- Securitisation “STS” Regulation implementation;
- Securities Financing Transactions Regulation (SFTR) implementation;
- Retail Investment Strategy
- PRIIPs Regulation implementation;
- MiFID II / MiFIR implementation and review, particularly including non-equities' consolidated tape and transparency;
- CSDR implementation, especially issues around settlement discipline;
- Benchmarks Regulation and the transition to new near risk-free rates;
- MAD II / MAR;
- AIFMD / UCITS, ELTIF, including fund risk considerations;
- Covered bonds directive and regulation & non-covered bond dual-recourse instruments (ESNs);
- EMIR Review, particularly the implementation of the small financial counterparty (SFC) regime;
- Wholesale CDBC.
Communication Activities: ICMA's market practice and regulatory policy department publishes a quarterly report which contains all the relevant activities undertaken by ICMA staff. The latest version is available here https://www.icmagroup.org/Regulatory-Policy-and-Market-Practice/Regulatory-Policy-Newsletter/. The previous versions are available here https://www.icmagroup.org/Regulatory-Policy-and-Market-Practice/Regulatory-Policy-Newsletter/Previous-versions/.
More broadly, information about ICMA's Market Practice & Regulatory Policy work is available at:
https://www.icmagroup.org/Regulatory-Policy-and-Market-Practice/.
Inter-institutional or Unofficial Groupings: N/A
Head Office
Address: Dreikönigstrasse 8
Post Code: CH-8002
City: Zurich
Country: SWITZERLAND
Phone: [object Object]
EU Office
Address: Avenue des Arts 56
Post Code: 1000
City: Brussels
Country: BELGIUM
Phone: [object Object]
Financial Data
New Organisation: false
Closed Year: [object Object]
Current Year: [object Object]
Membership Information
Members10 Percent: 0
Members25 Percent: 8
Members50 Percent: 0
Members75 Percent: 0
Members: 8
Members F T E: 2
Info Members: We have estimated that on average we have 18 persons involved for approximately 10%, on average, of their working time, but as the percentage expression of working time does not permit a figure lower than 25%, we have adjusted the number of persons to 8 working at 25% to yield the nearest available correct FTE figure.
Structure
Structure Type: Structure
Is Member Of: ICMA currently has over 620 members in more than 68 jurisdictions. The ICMA Members Register (restricted access) can be found at https://www.icmagroup.org/membership/icma-members-register/.
Organisation Members: ICMA is
- an affiliate member of the International Organization of Securities Commissions (IOSCO) and accordingly is a member of the IOSCO Affiliate Members Consultative Committee (AMCC: https://www.iosco.org/about/?subsection=display_committee&cmtid=2); and
- a member of the International Council of Securities Associations (ICSA) comprising a number of important trade associations and non-governmental regulatory organisations (https://icsa.global/).
- a member of ECMI https://www.ecmi.eu and QED https://www.qed.eu/