ICMSA Bulletin 211025/58: Update Guide to the Treatment of Denominations and Related Exchange Conditions

As part of the ICMSA’s commitment to providing guidelines on various international capital market services; this process also entails periodic reviews and updates being done where necessary – to ensure the documents evolve with market practices. The ICMSA Market Practice Sub-Committee recently undertook this exercise for the Minimum Denomination bulletin.

This committee review resulted in some further sections being included in the latest version for additional clarity and provide further assistance to the financial market community.

LIBOR: ICMSA response to FCA’s consultation on use of critical benchmarks

ICMSA has responded on behalf of its members to the FCA’s consultation on the use of its powers in connection in particular with the cessation of LIBOR rates. The ICMSA response supports broad application of powers in relation to the use of synthetic LIBOR in order to avoid market disruption and mitigate transition risk.