The International Capital Market Association or ICMA is a self-regulatory organization and trade association for participants in the capital markets. Despite the name suggesting a global outlook, it has a European focus. It was formed in July 2005 by the merger of the International Primary Market Association and the International Securities Market Association (formerly the International Association of Bond Dealers). ICMA stated aims are to promote high standards of market practice, appropriate regulation, trade support, education and communication. It produces standard documentation for transactions such as equity and debt issuance and repos.

ICMA market conventions and standards have been the pillars of the international debt market for almost 40 years, providing the self-regulatory framework of rules governing market practice which have facilitated the orderly functioning and impressive growth of the market.

Source: WIKIPEDIA