The Global Borrowers & Investors Forum

Elizabeth Callaghan

Director, Market Practice and Regulatory Policy

International Capital Markets Association


Elizabeth Callaghan’s background is in front office (CF 30) fixed income and equities electronic trading (investment banks, brokers and MTFs). In the past few years, Liz has focused on market structure and regulatory strategy. She has deep knowledge of MiFID II as it relates to bond electronic trading. Liz also has a working knowledge of EMIR and Dodd Frank extra-territoriality. Liz's market practitioner's approach specialises in: market structure, product innovation and strategy, business line rationalisation, best execution, sound regulatory arbitrage strategy and lastly, business development. Liz joined ICMA in December 2014 as a director in the market practice and regulatory Policy team, focusing on MiFID II trading related obligations and electronic trading. Liz is frequently a conference speaker on the trading impacts of MiFID II and MiFIR. Presently, Liz is one of two directors on the secondary markets desk and the lead on MiFID II. Her response to ESMA’s MiFID II Consultation Paper, submitted in early March can be found on ICMA’s website. Liz is also the lead for all bond market electronic trading related issues and thought leadership. Lastly, Liz is a founding member of the European FIX Committee (Original business guidelines and standards for institutional cross-border equities electronic trading between the sell-side and buy-side).


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Tue 23 - Wed 24 Jun 2015

The Hilton Park Lane, London