The International Capital Market Association (ICMA) released its Q1 2025 report, with the foreword reflecting on 10 years of the ICMA Women’s Network. There are thought leadership features on: fixed income ETFs: growth, innovation, and impact on bond markets; the functioning of the EU securitisation framework; assessing the adequacy of macroprudential policies for non-bank financial intermediation (NBFI); the push and pull for central clearing in the sovereign bond markets; rebuilding UK/EU relations in financial services outside the EU Single Market; and MAS Guardian Fixed Income Framework.
The Quarterly Report also includes international capital market practice and regulatory policy updates on primary markets, secondary markets, repo and collateral markets, sustainable finance, fintech and digitalization, followed by a feature on emerging capital markets in Thailand.