About Us


ICMSA is a London-based self regulating organization representing international financial and non-financial institutions active in the provision of services to the International Capital Market.

Our membership includes universal banks, registrars, stock exchanges, law firms, International Central Securities Depositories (ICSDs) and other service providers specialised in specific product segments such as the processing of tax reclaims. The primary purpose of the association is to foster the highest standards in the practice and management of international capital market services, thereby facilitating the efficient functioning of the market.

In its day-to-day activities, the ICMSA focuses on the operation of the International Securities Market (i.e. securities primarily issued and deposited with the ICSDs, Clearstream Banking S.A. and Euroclear Bank S.A./N.V.), which has outstanding issuance levels exceeding EUR (EUR) 13 Trillion as reported by the ICSDs.

Primary purpose

The primary purpose of the Association shall be to foster the highest standards in its members in the practice and management of international capital market services by representation to government and regulatory bodies.


To engage in communication and consultation with comparable professional and technical associations and societies.

To promote the interests of its members through meetings of the Association and otherwise, to provide opportunities for the discussion and consideration of matters of interest to its members.

To consider and take any appropriate action on items of mutual interest in the fields of law, taxation, investment and any other related technical and practical subjects with which members of the Association are or may be concerned, and to advance the interests of members of the Association by representation to the government and other relevant bodies or in any other way whatsoever.

To keep under consideration the academic and technical training required by the staff of members of the Association and to make representations to appropriate educational and examining bodies with regard thereto.

To consider and, if thought appropriate, to reply to comments appearing in the media or elsewhere in relation to the practices and management of the Association and of those of the international capital markets.

To keep under consideration the development of the international capital markets for the benefit of all its participants. To consider, and act upon, any matters not specifically mentioned herein which are or may be of interest, import or concern to the members of the Association, or any one of them or their customers, clients or associates.