The Foreword is by Mandy DeFilippo of Morgan Stanley International and Chair of the ICMA Board. This is followed by a Message from ICMA’s Chief Executive, Martin Scheck. The Quarterly Assessment considers risks arising from Brexit in the international capital markets. There are feature articles on: trading in fragmented capital markets; the ICMA Secondary Market Practices Committee over the past three years; the search for a euro safe asset; market conventions for referencing SONIA; and legacy sterling LIBOR bonds. The ICMA Quarterly Report also covers other international capital market practice and regulatory developments in the primary markets, secondary markets, repo and collateral markets, green, social and sustainability bond markets, and asset management. These contributions are followed by an international regulatory digest of recent G20 and European financial regulatory reforms and FinTech regulatory developments. Finally, there are more details of ICMA’s AGM and Conference in Stockholm on 15-17 May.
