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International Securities Markets Association (ISMA) - Incorporates the Association of International Bond Dealers (AIBD) whose members comprised organisations in 40 nations and which acted as a forum for questions concerning international securities markets and issued and enforced rules governing operations. Responsibilities are now widened out from purely bond dealers to encompass Euromarket bond dealers and managers in the international securities markets. The Association changed its name from Association of International Bond Dealers (AIBD) to the International Securities Market Association (ISMA) in January 1992. Based in Zurich.