ICMA's full members are entities which actively deal in securities in the international capital market. The following types of entity qualify as full members of the Association:
| (a) | banks |
| (b) | members of recognised stock exchanges |
| (c) | licensed dealers in securities |
| (d) | members of recognised security dealers associations |
| (e) | asset and fund managers |
| (f) | insurance companies |
| (g) | affiliates to a bank |
| (h) | affiliates to a member of a recognised stock exchange |
Organisations which do not qualify as full members but which have an important role in the international capital market and maintain close relations with ICMA may become associate members of the Association.
Organisations qualifying for associate membership include central banks, recognised international clearing systems, recognised stock exchanges or bodies fulfilling comparable functions, bodies that have a public function in any country or in any international or supranational organisation and professional advisers such as legal advisors.