The International Capital Market Association (ICMA) and the Euro Debt Market Association (AMTE) have announced that, as from January 2009, AMTE will be operating as a semi-autonomous council under the auspices of ICMA.
The proposal, which was ratified by the membership of AMTE at its AGM in December, will allow the AMTE name and its work on the integration and efficient functioning of the euro debt markets to continue, with strengthened technical and administrative support from ICMA.
Commenting on the move, Bertrand de Mazières, chairman of AMTE, said: “Recent developments in financial markets have led all trade associations to seek efficiencies through closer co-operation.” He continued, “AMTE and ICMA have demonstrated their leadership in this area and will immediately deliver enhanced value to both sets of members in these difficult times.”
René Karsenti, executive president of ICMA, said: “ICMA and AMTE, as truly pan-European industry bodies, share many common aspirations; their joining forces will greatly enhance the representation of the international financial industry in Europe at this critical time in its history.”
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