International Securities Market Association - ISMA

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DEFINITION of 'International Securities Market Association - ISMA'

A self-regulatory organization and trade association originally located in Zürich, Switzerland, that encourages systematic and compliant trading in the international securities market. It also promotes the development of the Euromarkets and is acknowledged as a designated investment exchange by the Financial Services Authority, which regulates the financial services industry in the U.K.

INVESTOPEDIA EXPLAINS 'International Securities Market Association - ISMA'

ISMA helped to establish standardized trading procedures in the international bond market. It had 430 members in 49 different countries, representing all of the major securities firms active in the secondary international debt market.

In July 2005, the ISMA and International Primary Market Association merged to become the International Capital Market Association.

RELATED TERMS
  1. International Bond

    Debt investments that are issued in a country by a non-domestic ...
  2. Debt Security

    Any debt instrument that can be bought or sold between two parties ...
  3. Secondary Market

    A market where investors purchase securities or assets from other ...
  4. Security

    A financial instrument that represents: an ownership position ...
  5. Euromarket

    The market that includes all of the European Union member countries ...
  6. Bond Market

    The environment in which the issuance and trading of debt securities ...
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