The International Capital Market Association (ICMA) has welcomed the launch of the UK's first consolidated tape for bonds, operated by ETS Connect UK following its selection by the Financial Conduct Authority in 2025. ICMA CEO, Bryan Pascoe, states that the consolidated tape will provide a centralised source of aggregated post-trade bond market data and is expected to support assessments of execution quality and transaction costs, enhance market analytics and valuations, improve price discovery, and encourage broader participation in UK bond markets. ICMA says the launch, together with the UK's new bond market transparency regime introduced in December 2025, marks a significant step towards greater bond market transparency and data accessibility. ICMA also notes that similar reforms are underway in the EU, where a new transparency regime took effect in March 2026 and preparations for an EU consolidated tape are continuing.

The International Capital Market Association (ICMA) has responded to the European Securities Markets Authority’s (ESMA) MiFIR consultation package on the review of RTS 2 on transparency for bonds, structured finance products and emission allowances, draft RTS on reasonable commercial basis and review of RTS 23 on supply of reference data, published in May 2024.

The International Capital Market Association (ICMA) has published its quarterly report for the first quarter of 2023. The issue covers monetary policy, financial stability and capital market resilience. It also includes features on international capital market practice, with separate features on the regulatory updates on primary markets, secondary markets, repo and collateral markets and sustainable finance.

The International Capital Market Association (ICMA), in collaboration with the Association for Financial Markets in Europe (AFME) and the International Swaps and Derivatives Association (ISDA) have published a briefing paper outlining the practical implications of the recent changes to the Systematic Internaliser (SI) regime for bonds and derivatives. The paper explains that under the EU Markets in Financial Instruments Directive/Regulation (EU MiFID/R) Review and UK Wholesale Market Reform, all pre- and post-trade transparency reporting obligations linked to the SI status have been removed and replaced by the Designated Publishing Entity (DPE) and Designated Reporting (DR) regimes. As a result, many investment firms previously registered as SIs are expected to de-register for bonds and derivatives.

The International Capital Market Association (ICMA), the Association for Financial Markets in Europe (AFME) and the International Swaps and Derivatives Association (ISDA) have updated their briefing paper on the changes of the systematic internaliser (SI) regime on bonds and derivatives.

The International Capital Market Association (ICMA), the International Swaps and Derivatives Association (ISDA), the International Securities Lending Association (ISLA) and the Fintech Open Source Foundation (FINOS) have launched version 5.0 of the Common Domain Model (CDM) featuring technical, product, and event improvements, including a vast array of automation solutions.

The International Capital Market Association (ICMA), the Islamic Development Bank (IsDB) and LSEG (London Stock Exchange Group) have jointly published guidance on the issuance of green, social and sustainability sukuk (together, ‘sustainable sukuk’). The guide provides practical information to issuers and other key market participants on how sukuk may be labelled as green, social or sustainability and aligned with the ICMA Principles through examples, case studies and best practices, thus helping to establish and maintain the sustainable sukuk market.

The European Repo and Collateral Council (ERCC) of the International Capital Market Association (ICMA) has published the outcomes of its 47th semi-annual European repo market survey, revealing a record outstanding value of €11.11trn as of June 2024 with a 7.1% year-on-year growth to €11,114bn. Key findings of the survey include: a receding net reverse repo position; recovery in cash-driven repo; contraction in automatic trading systems and CCP-clearing; progress in dealer-to-customer automated trading platforms; significant surge in the share of US dollar and US Treasuries; changes in tri-party repo allocations; continued advancement in floating-rate repo share; and enhanced maturity transformation in the market.

The International Capital Market Association (ICMA) Secondary Market Practices Committee (SMPC) has published its semi-annual report that provides detailed data on the aggregated bond market data as reported under the MiFID II/MiFIR obligation, now including EU-issued bonds alongside traditional sovereign bonds for the first time. This report provides 42 months of bond market data, covering the period January 2022–June 2025.

The International Capital Market Association (ICMA)'s Secondary Market Practices Committee has published its semi-annual report for the first half of 2024 (H1 2024) which sets out detailed data on the EU and UK sovereign bond market trading landscape. The report, which captures more than 80% of all secondary bond market reported in the EU and UK over the period of January 2022 through to June 2024, aims to enhance public transparency of secondary trading activity in the EU and UK markets under the MiFID II/ MiFIR obligation.

The International Capital Market Association (ICMA) has published its first quarterly evaluation of market practice and regulatory policy for 2025. This issue encompasses rising capital markets, green finance, the capability of the EU securitisation framework, the oscillation for central clearing in the sovereign bond markets and fixed income exchange traded funds.

The International Capital Market Association (ICMA) has published its second quarterly evaluation of market practice and regulatory policy for 2025. The report examines the UK affecting sovereign debt restructuring, the European Commission's new Savings and Investment Union (SIU) Strategy, and the transition to T+1 settlement in October 2027. It also covers emerging regulatory frameworks for AI in financial markets and updates to sustainable finance regulations. The report highlights concerns about proposed changes to sovereign debt restructuring mechanisms that could affect creditor rights and market access for emerging economies.