The International Capital Market Association has been formed from the merger of the International Primary Market Association and the International Securities Market Association.

The deal was first announced back in February. The new ICMA is the self-regulatory organization and trade association representing the investment banks and securities firms issuing, trading and dealing international securities worldwide.

The combined organization “has the mandate to represent the capital markets, with the object of maintaining and developing an efficient and cost effective international market for international capital.”

The ICMA also intends to further develop its current advocacy efforts in the months to come.

The merged association will have its headquarters in Zurich. It will have an operating entity in London at ICMA Limited, from which it will operate and support the association’s products and services including TRAX, its trade matching and reporting system.

The board of directors of ICMA comprises directors from the two constituent associations and is representative both of the geographical spread of the membership and their different areas of interest. The chairman of ICMA is HansJörg Rudloff, chairman of Barclays Capital in London. John Langton will serve as the CEO and secretary general of ICMA and Clifford Dammers has been appointed as ICMA’s head of regulatory policy.

The new association will continue discussions with the Bond Market Association about arrangements for close co-operation on global matters, it notes.