Association of International Bond Dealers - Explained
What is the Association of International Bond Dealers?
Written by Jason Gordon
Updated at April 17th, 2022
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Table of Contents
What is the Association of International Bond Dealers?What Does the Association of International Bond Dealers Do?What is the Association of International Bond Dealers?
The Association of International Bond Dealers (AIBD) is an organization that sets standards for bond dealers and regulates trading and settlement in the Eurobond market.
Established in 1969, AIBD has been a self-regulatory organization at the fore-front of promoting ethical standards and good market practices in trade and settlement.
Today, the Association of International Bond Dealers (AIBD) is now called the International Capital Market Association (ICMA).
This association provides standards on acceptable market practices and give appropriate regulations on equity issuance, debt issuance, repos, and other similar transactions.
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What Does the Association of International Bond Dealers Do?
The International Capital Market Association (ICMA) was formed in 1969 in Switzerland (Zurich).
The membership at present time has covered up to 60 countries who engage in bond transactions. About 530 financial institutions belong to this association.
In the Eurobond market, international bond dealers issue the Eurobonds, they operate as a syndicate where each bond dealer performs his functions.
Aside from underwriting functions performed by members of the syndicate, these international bond dealers also trade global bonds.
In 1992, AIBD has first changed the International Securities Market Association (ISMA) before its name was changed for the second time in 2005.
This time, it was changed to the International Capital Market Association (ICMA). Given the increase in the membership of ICMA, it has different chapters in different parts of Europe, Asia, and Latin America.