From 1912 to Today
SIFMA’s History
SIFMA was formed in 2006 through the merger of the Securities Industry Association and The Bond Market Association, but our organizational roots date back to 1912 with the founding of the Investment Bankers Association of America. For more than a century, our predecessor organizations and SIFMA have brought the securities industry together around shared market, policy and operational issues.
1912 | Investment Bankers Association of America Is Founded
The Investment Bankers Association of America was founded as a national organization representing the investment banking industry and became the earliest predecessor in SIFMA’s organizational history.
1913 | Association of American Stock Exchange Firms Is Formed
The Association of American Stock Exchange Firms was established the following year. With overlapping membership and shared industry priorities, the two organizations frequently worked together.
1914 | A Committee-Based Model Takes Shape
The Investment Bankers Association established its first committee, beginning a model of bringing industry experts together around shared issues that remains central to SIFMA today.
1971 | Securities Industry Association Is Formed
The Investment Bankers Association of America and the Association of American Stock Exchange Firms merged to form the Securities Industry Association (SIA), formally combining their efforts into a single association representing the securities industry.
1976 | Public Securities Association Is Established
The IBA’s Municipal Securities and Government Bonds Committees, whose roots dated to 1918, incorporated as the independent Public Securities Association (PSA), representing securities firms and banks in the municipal, Treasury and federal agency securities markets.
1997 | PSA Becomes The Bond Market Association
PSA becomes The Bond Market Association (TBMA) as its representation expands across the debt markets.
2006 | SIFMA Is Formed
In 2006, the Securities Industry Association and The Bond Market Association merged to form the Securities Industry and Financial Markets Association (SIFMA), beginning a new chapter built on nearly a century of shared industry history.
20 Years as SIFMA
In 2026, SIFMA marks 20 years serving our members, building on organizational roots dating back to 1912 and more than a century of bringing the industry together through periods of change, challenge and innovation. Our 20th Anniversary Timeline expands beyond SIFMA’s organizational history to tell the broader story of the U.S. capital markets. Explore the market events, policy developments, industry advances and moments of resilience that have shaped the markets — and SIFMA’s role throughout that history.
