ICMA Podcast

ICMA Quarterly Briefing Q1 2026: Creating the conditions to scale up the European commercial paper market

Katie Kelly explores structural barriers and enabling measures to deepen and modernise the European commercial paper market.

ICMA Quarterly Briefing, Q1 2026: Project Guardian – DvP settlement guide & lessons learned from custody of DLT-based debt securities:

Gabriel Callsen, Senior Director, FinTech and Digitalisation, ICMA summarises key findings on DvP settlement assets and custody models for DLT-based bonds under Project Guardian.

ICMA Quarterly Briefing, Q1 2026: ICMA’s initiatives on the SEC mandatory clearing for US Treasuries

Zhan Chen outlines ICMA’s engagement with members and regulators on the implications of the SEC’s US Treasury clearing mandate and market readiness challenges.

ICMA Quarterly Briefing, Q1 2026: Enhancing the resilience of the gilt repo market

Andy Hill discusses ICMA’s response to the Bank of England’s proposals on gilt repo resilience, including central clearing, haircuts, and alternative policy measures.

ICMA Quarterly Briefing, Q1 2026: The stablecoin question: an impractical distraction or a powerful alternative?

Francisco Parente, Associate Director, FinTech and Digitalisation, ICMA examines the regulatory landscape, risks, and potential role of stablecoins as on-chain settlement assets in capital markets.

AMIC Market update: ICMA Asset Management & Investors Council

Listen now to the podcast from the Asset Management and Investors Council (AMIC), ICMA's dedicated forum advocating the interests of buy-side members, including asset managers, institutional investors, private banks, pension funds, and insurance companies.

Anita Karppi, Senior Director - Buy-side, Market Practice & Regulatory Policy, ICMA was joined this episode by industry experts, Bob Parker, former Chairman of AMIC and Senior Adviser to ICMA, and Massimiliano Castelli, PhD MSc, Managing Director and Head of Strategy & Advice at UBS Asset Management, who also serves as the Co-Chair of the AMIC Executive Committee.

This podcast was recorded on 16 December 2025, where the team discussed:

Capital Markets: Equities and precious metals surged in 2025 while fixed income and commodities lagged. What were key drivers behind these divergent performances, and how should investors interpret them going into 2026?

Economic Growth & Risks: What main forces will shape global growth in 2026, and where might the biggest risks or opportunities be?

Policy & Investor Strategy: How might investor behaviour to shift in 2026 — particularly in terms of defensive versus growth strategies?

If you have questions or topics that you would like our guests to address in future episodes, please feel free to get in contact via email: AMIC@icmagroup.org.

Learn more about AMIC

Education & Training | ICMA's AI in Bond Markets - Episode 2

This episode features a conversation between Mark Granville, Head of Education at ICMA and Emma Thomas, Secretary to ICMA’s Artificial Intelligence in Capital Markets (AICM) Working Group. They discuss the origin of the group, why it was created, and how it focuses on regulatory engagement, market-relevant AI implementations, and responsible standards.

Further exploring how AI is being adopted across the bond lifecycle, where the biggest efficiency gains are emerging, and how firms should navigate the growing regulatory agenda, they also discuss the risks and limitations of AI, the importance of responsible use, and why upskilling is becoming essential across the industry.

A practical, grounded view of how AI is reshaping workflows, risk considerations and future capabilities in capital markets.

Digital Bonds: Hype, hope or the future of capital markets?

Digital bonds: hype, hope or the future of capital markets? Listen to our podcast examining just how far - or not - the bond market has progressed towards a digital future with host Mushtaq Kapasi, Chief Representative of ICMA for Asia Pacific in conversation with Ankur Prakash, Head of Digital and Strategic Initiatives, Global Banking at Standard Chartered and Yam Ki Chan, Vice President at US fintech Circle, one of the world’s major issuers of stablecoins.

This is the first of a special series of podcasts examining some of the leading trends of the day, co-produced by Resonate Global Advisors.

AMIC Market update: ICMA Asset Management & Investors Council

Listen now to the podcast from the Asset Management and Investors Council (AMIC), ICMA's dedicated forum advocating the interests of buy-side members, including asset managers, institutional investors, private banks, pension funds, and insurance companies, among others.

Anita Karppi, Senior Director - Buy-side, Market Practice & Regulatory Policy, ICMA was joined this episode by industry experts, Bob Parker, former Chairman of AMIC and Senior Adviser to ICMA, and Massimiliano Castelli, PhD MSc, Managing Director and Head of Strategy & Advice at UBS Asset Management, who also serves as the Co-Chair of the AMIC Executive Committee.

This podcast was recorded on 24th October 2025, where the team discussed:

• IMF/WB Annual Meetings: What were the major takeaways?
• US Government Shutdown & US/China Trade Negotiations: How will these challenges impact global markets?
• Central Bank Meetings: What to expect from the Fed, ECB, BoE, and BoJ in late October and early November?
• Equity and Commodity Markets: Are we witnessing bubbles, and how can we define one?
• Investor Sentiment: After a strong 2025 performance, will investors take profits or reduce risks?
• German Government & European Financial Integration: Will we finally see progress on the Capital Markets Union?

If you have questions or topics that you would like our guests to address in future episodes, please feel free to get in contact via email: AMIC@icmagroup.org.

Learn more about AMIC: https://www.icmagroup.org/market-practice-and-regulatory-policy/asset-management/

ICMA Quarterly Briefing, Q4 2025: ICMA’s Bond Data Taxonomy: Market Initiatives and Adoption

Gabriel Callsen, Senior Director, FinTech and Digitalisation, ICMA gives an update on ICMA's Bond Data Taxonomy: market initiatives and adoption.