The International Capital Market Association (ICMA) is a unique organisation and an influential voice for the global capital market. It represents a broad range of capital market interests including global investment banks and smaller regional banks, as well as asset managers, exchanges, central banks, law firms and other professional advisers.

It was formed in July 2005 by the merger of the International Primary Market Association (IPMA) and the International Securities Market Association (ISMA) (formerly the Association of International Bond Dealers(AIBD)).ICMA stated aims are to promote high standards of market practice, appropriate regulation, trade support, education and communication. It produces standard documentation for transactions such as equity and debt issuance and repos.

ICMA’s market conventions and standards have been the pillars of the international debt market for over 40 years.

The growing challenges of globalisation and consolidation in the banking sector, together with increasing regulatory activity, led to the formation of the International Capital Market Association in July 2005 through the merger of ISMA and IPMA, creating an organisation with a broad franchise across the primary and secondary international capital markets.