Participants in regional securities markets are typically members of one or more trade associations:

• The International Swaps and Derivatives Association (ISDA) represents participants in the privately negotiated derivatives industry.

• The International Capital Market Association (ICMA) is a self-regulatory organization and trade association for the international capital market.

• The International Organization of Securities Commissions (IOSCO) is a forum for international cooperation among securities regulators and is recognized as the international standard-setter for the securities sector.

• The Securities Industry and Financial Markets Association (SIFMA) is a US-based trade association representing a diverse mix of securities firms and banks. The association focuses on advocacy - improving legislative, regulatory, educational and market practices of bond markets. SIFMA is a result of a merger between The Securities Industry Association and The Bond Markets Association.

• Asia Securities Industry & Financial Markets Association (ASIFMA) is a professional advocacy organization which aims to promote growth and development in Asia’s capital market. The organization shall serve as venue for market participants to discuss issues, formulate recommendations and develop solutions to market issues.

For information on local market associations, please refer to market home pages.