Die International Capital Market Association ( ICMA ) ist ein gemeinnütziger globaler Handelsverband für Teilnehmer an den grenzüberschreitenden Fremdkapitalmärkten [ 1 ] mit Niederlassungen in Zürich , London, Paris, Brüssel und Hongkong.
Die ICMA entwickelt branchenorientierte Standards und Empfehlungen. Sie arbeitet mit Regulierungs- und Regierungsbehörden zusammen und trägt dazu bei, dass die Finanzregulierung stabile und effiziente Kapitalmärkte fördert.
Seit 2014 stellt die ICMA das Sekretariat für die Prinzipien ( Green Bond Principles (GBP), Social Bond Principles (SBP), Sustainability Bond Guidelines (SBG) und Sustainability-Linked Bond Principles (SLBP)), die den globalen Markt für nachhaltige Anleihen untermauern. Seit Dezember 2022 stellt die ICMA zudem das Sekretariat für den freiwilligen Verhaltenskodex für ESG-Ratings und Datenanbieter.
Originally established in Zurich under Swiss Law (Zurich) in February 1969 as the Association of International Bond Dealers (AIBD), the International Capital Market Association was formed in July 2005 from the merger of International Primary Market Association and the International Securities Market Association (formerly the AIBD) to create an association that covered both primary and secondary international capital markets.
History
The International Capital Market Association has its roots in the creation of the Eurobond market in the early 1960s. Eurobonds created a new market in borrowing in US dollars offshore to avoid US tax regulations, but this itself introduced new problems with settlement and regulation across different jurisdictions. In response a group of bond dealers representing banks and securities firms established the Association of International Bond Dealers (AIBD) in 1969.
In the years that followed, AIBD enacted a series of rules and recommendations governing market practice, providing stability and order to the international capital market.
In the 1980s AIBD began to provide data services to the market and in 1989 launched the transaction matching, confirmation and regulatory reporting system, known as TRAX. In 1992 AIBD changed its name to International Securities Market Association (ISMA).
Separately the International Primary Market Association (IPMA) was founded in 1984 by a number of major banks to provide basic recommendations for the primary capital market.
In April 2009, ICMA sold its market services business, including TRAX, to Euroclear.
See also
- Bond Dealers of America
- Securities Industry and Financial Markets Association
- Global Financial Markets Association
References
- ^"ICMA Mission Statement". Archived from the original on 2008-10-26. Retrieved 2007-10-31.
