ICMA to lead Project Guardian Fixed Income workstream
02 June 2025 Singapore
Image: orpheus26/stock.adobe.com
The International Capital Market Association (ICMA) has assumed the role as the lead of the Project Guardian Fixed Income workstream.
Convened by the Monetary Authority of Singapore (MAS), Project Guardian is a global collaboration between policymakers and key industry players to enhance liquidity and efficiency of financial markets through asset tokenisation.
The Guardian Fixed Income Framework (GFIF), first published in November 2024 under Project Guardian, sets the stage for a structured, secure, and innovative environment to enable digital transformation within fixed income markets in APAC and beyond.
In 2025, ICMA鈥檚 leadership in this workstream will focus primarily on delivery-versus-payment (DvP) settlement and custody arrangements for tokenised debt securities.
Gabriel Callsen, senior director at ICMA, comments: 鈥淲e look forward to collaborating closely with MAS and industry participants to facilitate the scaling of DLT-based bond markets.
鈥淭his role underscores ICMA鈥檚 commitment to enhancing interoperability and efficiency in global capital markets through digital innovation, furthering our mission to support sustainable economic growth.鈥�
Convened by the Monetary Authority of Singapore (MAS), Project Guardian is a global collaboration between policymakers and key industry players to enhance liquidity and efficiency of financial markets through asset tokenisation.
The Guardian Fixed Income Framework (GFIF), first published in November 2024 under Project Guardian, sets the stage for a structured, secure, and innovative environment to enable digital transformation within fixed income markets in APAC and beyond.
In 2025, ICMA鈥檚 leadership in this workstream will focus primarily on delivery-versus-payment (DvP) settlement and custody arrangements for tokenised debt securities.
Gabriel Callsen, senior director at ICMA, comments: 鈥淲e look forward to collaborating closely with MAS and industry participants to facilitate the scaling of DLT-based bond markets.
鈥淭his role underscores ICMA鈥檚 commitment to enhancing interoperability and efficiency in global capital markets through digital innovation, furthering our mission to support sustainable economic growth.鈥�
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