Key Contacts

Kenneth E. Bentsen, Jr.
President and CEO
[email protected] | 202.962.7400

David Krasner
Chief Financial and Chief Administrative Officer
[email protected] | 212.313.1249

Joseph Seidel
Chief Operating Officer
[email protected] | 202.962.7300

Salvatore Chiarelli
Executive Vice President, Head of Conferences and Events
[email protected] | 212.313.1231

Cheryl Crispen
Executive Vice President, Communications and Marketing
[email protected] | 202.962.7474

Ira D. Hammerman
Executive Vice President and General Counsel
[email protected] | 202.962.7373

Jamie Wall
Executive Vice President, Advocacy
[email protected] | 202.962.7440

Key Resources

Advocacy & Resources
Comment letters, white papers, articles and more on market policy and regulation

SIFMA Insights
Thoughtful and unique views on the markets, the industry and the economy

SIFMA Research
Data and reports on the capital markets and securities industry

SIFMA SmartBrief
A daily, concise news briefing on news impacting the capital markets

Pennsylvania + Wall
Musings from the intersection of public policy and financial markets

My Profile
Update your profile to receive important information and event updates

Capital Markets Fact Book

The SIFMA Capital Markets Fact Book is an annual reference containing comprehensive data on the capital markets, investor participation, savings and investment, and securities industry.

In 2018, the securities industry raised $2.4 trillion of capital for businesses through corporate debt and equity issuance activity in the United States. While a 10.8% decrease from last year’s post-crisis high, it is the fifth-highest issuance on record in our 15-year dataset. Results were mixed across asset classes, with equities +0.4% and fixed income -11.8%, which was driven by a 19% decline in corporate bonds as issuers and investors worried about rising interest rates, the withdrawal of central bank stimulus and increased concern over corporate debt levels.

Sources: Bloomberg, Dealogic, Refinitiv


Primers, by SIFMA Insights
The SIFMA Insights market structure primer series is a reference tool that goes beyond a typical 101 series. By illustrating important technical and regulatory nuances, SIFMA Insights primers provide a fundamental understanding of the marketplace and set the scene to address complex issues arising in today’s markets.

Primer Series

Global Capital Markets & Financial Institutions Primer
Let’s start at the beginning: what is the function of the capital markets? How is a financial institution structured? Why do capital markets matter?

Electronic Trading Market Structure Primer
Technology is now part of market DNA but defining electronic trading is not black and white. Here, we attempt to do so by providing an overview of the types of platforms and strategies utilizing a form of electronic trading.

US Equity Capital Formation & Listings Exchanges Primer
Initial public offerings (IPOs) are an important way for businesses to grow, innovate and better serve their customers. Yet, the number of public companies has declined 46% since its peak in 1996. Why might that be? What can be done?

US Equity Market Structure Primer
Efficient and resilient market structure is key to sustaining investor confidence and participation underpinning the equity markets.

US Multi-Listed Options Market Structure Primer
An option is a contract to buy or sell an underlying asset or security at a specified price on or before a given date.

US ETF Market Structure Primer
Exchange-traded funds (ETFs) are pooled investment vehicles that have experienced significant growth since 2000.

US Fixed Income Market Structure Primer
Fixed income markets are an integral component to economic growth, providing efficient, long term and cost- effective funding.

SOFR Primer: The Transition from LIBOR
The publication of LIBOR is not guaranteed beyond 2021. With an estimated $200 trillion of financial contracts referencing USD LIBOR, much work lies ahead in order to implement a successful reference rate change – and time is of the essence.

Market Structure: Capital Markets At-A-Glance

Capital, raised through equity and debt, can be used to grow businesses, finance investments in new plant, equipment and technology and fund infrastructure projects. This creates jobs and flows money into the economy. Additionally, businesses and individuals can invest in securities to generate wealth.
The capital markets can be broken into:

Primary Markets

  • Issuers create new securities and sell them to investors
  • Sales of new issuances carried out through discrete transactions
  • Securities issued at a single price

Secondary Markets

  • Investors trade securities, (typically) no issuer involvement
  • Trading of securities can occur continuously
  • Securities traded at market prices, fluctuating

2020 Holiday Schedule

On behalf of financial market participants, SIFMA recommends a holiday schedule in the U.S., U.K. and Japan. All SIFMA holiday recommendations apply to the trading of U.S. dollar-denominated government securities, mortgage- and asset-backed securities, over-the-counter investment-grade and high-yield corporate bonds, municipal bonds and secondary money market trading in bankers’ acceptances, commercial paper and Yankee and Euro certificates of deposit. Previously scheduled SIFMA early close recommendations do not affect the closing time for settlements.

Business Continuity Planning and Cybersecurity |

SIFMA leads a number of projects and services on behalf of the financial industry to help members secure, maintain and recover business operations against disruptions and threats, thereby promoting a safer and more resilient marketplace.

Quantum Dawn 6 Cybersecurity Exercise
Fall 2021

Cybersecurity Resources

Industry-Wide Business Continuity Test
Saturday, October 24, 2020
Saturday, October 23, 2021

Business Continuity Planning (BCP) Resources

Emergency Crisis Management Command Center

In the event of an industry-wide emergency, SIFMA convenes market participants; issues market close recommendations; and coordinates with market infrastructures, regulators and emergency personnel including the U.S. Treasury, New York City Office of Emergency Management and more.

2020 Conferences and Events

Regulation Best Interest Vendor Forum
January 16
New York, NY

Anti-Money Laundering & Financial Crimes Conference (AML)
February 5–6
New York, NY

Asset Management Derivatives Forum
February 5–7
Laguna Niguel, CA
Co-hosted by FIA and SIFMA AMG

Social Media & Digital Marketing Seminar
February 20, 2020
San Francisco, CA

Insurance- & Risk-Linked Securities Conference (IRLS)
March 1–3
Miami, FL

Securities Industry Institute (SII)
March 8–13
Philadelphia, PA

C&L Annual Seminar
March 15–18
Orlando, FL

Equities and Options Conference
April TBA
New York, NY

Operations Conference & Exhibition
April 21–24
San Diego, CA

Private Client Conference
May 13–15
Aventura, FL

Prudential Regulation Conference
June TBA
Washington, DC
Co-hosted by BPI and SIFMA

Financial Management Conference
June 10–12
Chicago, IL

Diversity & Inclusion Conference
Fall TBA
New York, NY

SIFMA Annual Meeting
October 19–20
Washington, DC

Terms to Know