ICMA - International Capital Market Association’s Repo & Sustainability Taskforce has published a summary report to reflect the feedback received in response to its 2024 Repo & Sustainability Market Survey, launched in February 2024. Building on the observations and categorisations from ICMA’s 2022 paper on sustainability in the repo market, the survey aimed to deepen the understanding of existing market practices and identify issues for further reflection and future guidance. ✴ Some key points from the survey: ❇ A clear call for further dedicated guidance to cover all types of sustainability-related repo ❇ A confirmation that the majority of respondents active in this market primarily focus on repo transactions involving sustainable collateral and this category of sustainability-related repo remains their top priority ❇ A general agreement that Use of Proceeds (UoP) and Sustainability-Linked (SL) repo should be transacted under firms’ overarching sustainability frameworks or strategies ❇ A strong view that SL repos are more appropriate for maturities exceeding 12 months ❇ A consensus that to avoid double-counting from an accounting perspective, any green claims should remain with the repo seller, who retains the economic exposure to the assets Guided by members of the Taskforce, ICMA will continue to closely monitor the market evolution and is looking to work on expanded guidance as a next step, which is a clear request emerging from the survey outcomes.
ICMA - International Capital Market Association
Kapitalmärkte
Setting standards in the international capital market.
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ICMA is the trade association for the international capital market with over 620 member firms from 68 jurisdictions globally, including issuers, banks, asset managers, central banks, infrastructure providers and law firms. It performs a crucial central role in the market by providing industry-driven standards and recommendations for issuance, trading and settlement in international fixed income and related instruments. ICMA liaises closely with regulatory and governmental authorities, both at the national and supranational level, to help to ensure that financial regulation promotes the efficiency and cost effectiveness of the capital market. ICMA prioritises three core fixed income market areas – primary; secondary; repo and collateral; with cross-cutting themes of sustainable finance and fintech & digitalisation.
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http://www.icmagroup.org
Externer Link zu ICMA - International Capital Market Association
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- Kapitalmärkte
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- 51–200 Beschäftigte
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- Zurich
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- Gegründet
- 1969
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- Fixed Income, Euro bonds, Market Practice, Primary Markets/Issuance, Regulatory Policy, Secondary Market/Trading, Repo Market/GMRA Legal Opinions, Legal Helpdesk, Dispute resolution, Executive Education, Events - Conferences and roundtables und Members Register
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Beschäftigte von ICMA - International Capital Market Association
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Justin Chan
Managing Director, BlackRock | Board Member | Committee Chair | FinTech-AI-DLT-Data | Regulatory Strategy | Berkman-Klein Fellow | Singapore Supreme…
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Frank Gast
Managing Director, Member of the Management Board EUREX Repo GmbH & Global Head of Repo Sales
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Stephen Grady
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RAYMOND SEAGER
Updates
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Join the ICMA Women’s Network (IWN) France to hear a discussion of the role of women in technological innovation, specifically innovations linked to financial markets. The representation of women within this ecosystem remains marginal. However, since the future of technologies should not be the one of inequalities, we proposed to various stakeholders to discuss the impacts of innovation on gender equality: Why are so few women represented in jobs with strong innovative or technological component? How can we make these areas an asset for gender equality? Valérie Fasquelle, Deputy General Director of the Information System (DGIS) and Sponsor for Innovation at Banque de France will present the Innovation Lab of Banque de France that was granted the label "Gender Equality European & International Standard AI" in 2023. Don’t miss this opportunity to enhance your networking and build connections that truly matter! This in-person event is free to attend and open to all. Register here: https://bit.ly/3X87TWz
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ICMA - International Capital Market Association hat dies direkt geteilt
Consolidated tape is welcome, but MiFIR still needs tweaks #Trading #Markets #CapitalMarkets #MiFIR #Regulation #ConsolidatedTape #Bonds #TheDESK ICMA - International Capital Market Association https://hubs.li/Q02N7wBg0
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ICMA - International Capital Market Association hat dies direkt geteilt
Explore ICMA’s Fintech & Digitalisation courses! Dive into how technology is reshaping financial services, from the impact on syndicated bond issuance processes like book-building to in-depth looks at innovations such as Distributed Ledger Technology (DLT), blockchain, and digital currencies. Stay ahead of the curve and learn how these technologies are influencing capital markets. Find out more: https://lnkd.in/eyGNg_h5 #Fintech #CapitalMarkets #Finance #DLT #Blockchain #DigitalCurrencies #SyndicatedBonds
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ICMA - International Capital Market Association responds to the European Securities and Markets Authority (ESMA) MiFIR Review Consultation Package ICMA welcomes the opportunity to respond to ESMA’s Consultations on the Review of RTS 2 and draft RTS on reasonable commercial basis, as part of ESMA’s MiFIR Review Consultation Package. ❇ Read the ICMA response on the Review of RTS 2 on transparency for bonds here: https://lnkd.in/gtk9sYVG ❇ Read the ICMA response on the draft RTS on reasonable commercial basis here: https://lnkd.in/gkpfSWq7 ICMA has been a longstanding advocate of increased transparency in the European bond markets and the introduction of an EU consolidated tape for bonds. This has been with the broad support of ICMA members. ICMA therefore welcomes the objective of the MiFIR Review to support the establishment of a consolidated tape. Underpinning the success of the tape will be the design and calibration of the related deferral framework, aimed at optimizing the scope of real-time post-trade transparency while also providing protection to the most sensitive transactions and reflecting the nature, structure, and liquidity of Europe’s bond markets. ICMA has undertaken extensive statistical analysis to ensure that its recommendations to ESMA are as data-driven and scientifically based as possible. ✴ Based on its analysis, ICMA proposes the following refinements to the deferral framework proposed by ESMA and based on the Revised MiFIR provisions: ❇ More granular groupings of bonds. ICMA proposes a distinction between the fixed coupon issuance of the very largest sovereign issuers and other sovereign bonds, as well as between investment grade and high yield credit. ❇ A more scientific approach to establishing the appropriate Liquidity determinant. While ICMA has focused on outstanding issuance size as the key determination variable, it does not rule out the relevance of other key features (such as time to maturity or currency denomination). ❇ A refinement to the proposed matrix, which allows for a more appropriate distinction between liquid and illiquid trade size thresholds. ❇ A more data-driven approach to establishing the appropriate trade size thresholds for the relevant deferral categories, based on historical traded average daily trading volumes. ICMA acknowledges the complexity of achieving optimal calibration across diverse bond classes but believes a data-driven approach is crucial. ICMA urges ESMA to consider these recommendations and collaborate with the industry to create a revised, well-calibrated framework that enhances market outcomes while mitigating risks.
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In case you missed it! The captivating discussion held at the last ICMA annual conference between Avinash Persaud, Special Advisor on Climate Change to the President of the Inter-American Development Bank and Ahren Lester, Assistant Editor, Environmental Finance on how to finance the response to climate change in emerging economies with vast opportunities and planetary need but little money. https://lnkd.in/d8ZVRCkr
56th ICMA AGM & Conference: Opportunities and need but little money - the response to climate change
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Are you registered to join us in London for the ICMA FinTech & Digitalisation Forum? This year’s forum will feature a wide range of market experts and key institutions, representing issuers, buy and sell side as well as market infrastructures, software vendors and law firms, who are leading the way in the advancement of technology in the debt capital markets. We are pleased to present two of the panel discussions that will be taking place, featuring: Christoph Hock, Head Tokenisation & Digital Assets, Union Investment Stefan Bosshard, Head of Fixed Income, SIX Digital Exchange Stéphanie Cabossioras, Secretary General, Societe Generale - FORGE Chikuang Patrick Cheng, Lead Financial Officer, The World Bank Treasury (IBRD • IDA) Marat Faritov, Assistant Vice President, Digital Economy, Moody's Ratings Bryony Widdup, Partner, and a core team member of the Digital Assets and Blockchain practice, Hogan Lovells Alexander Tollast, Counsel and Member of the Global Financial Markets and Tech Groups, Clifford Chance Juliana Bolzani, Senior Counsel, International Monetary Fund) Shearin Cao, PhD, EMEA Regulatory Engagement Function Director – Regulatory Policy, Citi Matthias Obrecht, Head Market Analysis, Swiss Financial Market Supervisory Authority FINMA Register now to learn about the latest developments, share your own insights and build your network! Lead sponsors: A&O Shearman BondAuction Clifford Chance DekaBank Deutsche Girozentrale Hogan Lovells Moody's Ratings Murex SIX Digital Exchange https://lnkd.in/eadQzgh5
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ICMA - International Capital Market Association hat dies direkt geteilt
Enhance your expertise in debt capital markets with ICMA Education & Training. Our courses, built on ICMA's extensive knowledge and involvement in this field, provide the latest insights on regulatory updates and market practices. Whether you're directly involved in bond issuance or supporting the process, these courses are designed to elevate your professional skills. For more information: https://lnkd.in/dwg4_Twb #CapitalMarkets #Training #ProfessionalDevelopment #PrimaryMarkets #Bonds
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📣 Don't forget to take part in the ICMA Future Leaders Essay Competition, open to all professionals with up to 8 years of experience in financial markets and who work for ICMA member firms. A fantastic range of prizes await the winners! 🏆 Deadline for submission is October 31, 2024. More details on https://lnkd.in/eJdKxzzX
Enter the ICMA Future Leaders Essay Competition! 📣 Professionals with a maximum of 8 years experience in financial markets and who currently work for ICMA member firms are invited to take part in the ICMA Future Leaders (IFL) essay competition on the theme of ‘Navigating the future of finance: Transforming capital markets for new talent’. In the post pandemic era, the allure of a career in traditional financial markets appears to be challenged. A survey by the Economic Times reports that in 2022, 65% of the moves by middle and senior level executives were to other industries, with departures more than double than those of new hires. This is further compounded by: ◾ demographic challenges as the baby boomer generation gradually retires; ◾ the shift in values and changing social priorities among Gen Z - sustainability is now a top priority; and ◾ advancements in technology. All of these factors today add fuel to the “war for talent”. How to participate 👉 Essays should address the theme of how the industry can better align with the values and expectations of the next generation considering the fast pace and demanding environment of capital markets; as well as look into the innovative strategies and culture shifts needed to redefine the capital market to continue its appeal as a career destination for young professionals. 👉 The essay should be in English between 2,500 and 4,000 words in length. One contribution per person is permitted. 👉 It should be submitted as a word document double line spaced, with your full details (name, email, telephone, job title, company name and up to date CV). 👉 The essay should be an original piece of work from the contributor, not previously submitted to other competitions. AI generated essays will be disqualified. 👉 The essay author must be working for an ICMA member firm at the time of the submission deadline and the date of the award event. The deadline for submission is 31 October 2024. 👉 Essays should be submitted to: [email protected]. 🏆 The winning entry, to be announced in November, will receive: ◾ a €3,000 cash prize; ◾ a mentoring opportunity with the Chair of the ICMA Board; ◾ a complimentary place on an ICMA online training course of their choice; ◾ the opportunity to have their essay published in select ICMA publications as well as present it at an ICMA Board meeting and at an IFL event. There will also be two runners up, who will receive €1,000 cash prize each and a complimentary place on an ICMA online training course of their choice. For more information, contact: [email protected] Our thanks to the ICMA Future Leaders steering committee representatives who worked on this essay competition: Samira Meier Ezien Hoo Odinaka Linus-Nwokonkwo, CFA Katsiaryna Souvandjiev, MSc (WU) FRM
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ICMA - International Capital Market Association hat dies direkt geteilt
IFL Austria, Eastern and South Eastern Europe invites ICMA members to our inaugural IFL event in Vienna - a unique opportunity to connect emerging professionals with distinguished leaders from Austria's finance and banking sectors. We are delighted to feature Katja Bauer, Managing Director, Trainer, and Coach at Synergy, who will deliver the keynote speech, "Brave New Leadership - Empowering the Next Generation in Finance." With her extensive experience in guiding transformational change, Katja will offer valuable perspectives on how to navigate and lead in today’s dynamic financial landscape. The keynote will be followed by a panel discussion with some of Austria’s most respected financial leaders: Christoph Boschan, CEO, Wiener Boerse Harald Kroeger, Group Head Structured Finance & Investment Banking, Raiffeisen Bank International AG Angelika Sommer-Hemetsberger, Member of the Board of Executive Directors, Oesterreichische Kontrollbank AG These industry experts will share their strategies for nurturing young talent, bridging the gap between leadership and management, and cultivating self-leadership skills essential for the next generation of finance professionals. Through interactive and thought-provoking discussions, attendees will gain practical insights and networking opportunities to become the leaders of tomorrow, driving innovation in the finance sector. The evening will conclude with a networking reception. Open to ICMA members.
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