We improve lives

The Inter-American Development Bank Group (IDBG) is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean (LAC). Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment. Over recent years, IDBG has been placing particular emphasis on amplifying its impact through innovative approaches to development finance, including risk-transfer mechanisms, capital recycling platforms, and structured vehicles designed to connect LAC assets with global institutional capital. 

About this position

IDB Invest is seeking an external consultant to prepare a comparative assessment of international, regional and LAC-based stock exchanges, bond listing venues, trading platforms and market infrastructures. The assessment will cover regulatory and admission routes, requirements and costs, sustainability frameworks, market-access channels, settlement and custody arrangements, secondary trading models, and tokenization and digital-securities alternatives. The output must be practical and decision-useful for IDB Invest and its clients, not only descriptive.

The consultant shall prepare a comprehensive comparative assessment of international, regional and Latin American and Caribbean (LAC)- based stock exchanges, bond listing venues, trading platforms and market infrastructures. The assessment shall cover regulatory frameworks, listing/admission routes, listing requirements, cost structures, sustainability frameworks, market access channels, settlement/custody arrangements and tokenization/digital asset alternatives. 

What you’ll do

Workstream 1 – Comparative assessment of major listing venues. The consultant shall map and compare the most relevant listing venues for international and LAC issuers, distinguishing between regulated markets, exchange-regulated markets, multilateral trading facilities, official-list-only alternatives, sustainable bond platforms, domestic exchanges and regional integration initiatives. The team leader will give the minimum venues to be mapped. For each venue, identify the legal nature of the market, compare eligibility criteria, assess ability to list different type of bonds and benchmark market visibility.

Workstream 2 – Regulatory frameworks, offering routes and compliance map. The consultant shall produce a jurisdiction-by-jurisdiction regulatory map that distinguishes offering regulation, listing/admission regulation, trading regulation, settlement/custody regulation and sustainability-disclosure regulation. The analysis must clearly separate legal requirements from market practice and investor expectations. The team leader will give the requiered coverage for each regulatory perimeter.

Workstream 3 – Listing requirements, listing routes and cost benchmarking. The consultant has to prepare a standardized matrix of listing/admission requirements for each venue and route, map alternative routes, benchmark minimum and typical cost components and provide a comparable all-in-cost template in USD and local currency.

Workstream 4 – Taxonomies, Sustainability frameworks and labeled-bond availability. Compare local taxonomies, sustainable-finance segments and labeled-instrument requirements, including alignment standards, external review, allocation/impact reporting, visibility tools, disclosure burden and sustainability-related scrutiny.

Workstream 5 – Market access routes and settlement/custody connectivity. To map routes for international investors to access each market, assess issuer access routes, identify practical constraints affecting investor access and develop a market-access scorecard combining investor details.

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Workstream 6 – OTC, exchange-traded, MTF and electronic trading platform assessment. The consultant shall compare secondary-market trading models for fixed-income instruments, including OTC voice/RFQ markets, exchange order books, MTFs, interdealer platforms, dealer-to-client platforms, all-to-all trading, post-trade reporting venues and LAC domestic fixed-income trading systems.

Workstream 7 – Tokenization and digital market infrastructure. The consultant should map existing and emerging tokenized bond issuance models, analyze venues and infrastructures offering or piloting digital securities issuance, compare regulatory treatment, and identify tokenization opportunities for IDB Invest to scale capital markets offerings in LAC.

Workstream 8 – Strategy, decision tools and use cases. Prepare transaction pathways for financial institutions and provide actionable recommendations for IDB Invest: preferred venues by transaction type; when to use international versus domestic listing; when local-currency/local-market issuance is preferable; when a sustainable segment adds value; and when tokenization is realistic versus premature.

What you'll need

• Education: Master degree in economics, finance, business, public policy, international development, or related field. 
• Experience: At least seven years of relevant experience in international debt capital markets, exchange listings, regulatory frameworks, fixed-income trading or market infrastructure. Demonstrated knowledge of Rule 144A, Regulation S, private placements, EU/UK listing routes, Eurobond issuance, ICSD/CSD settlement, exchange-regulated markets and LAC securities regulation. Experience with sustainable finance products, ICMA principles, external-review practices and sustainable bond segments. Familiarity with tokenization, digital securities, DLT market infrastructure, digital custody and evolving legal/regulatory issues for securities tokens. Experience preparing decision tools, benchmarking matrices, cost comparisons and executive-level recommendations for financial institutions or development finance institutions.   
• Languages: Proficiency in Spanish and English, spoken and written, is required. Additional knowledge of French and Portuguese is preferable.

Requirements

• Citizenship: You are a citizen of one of our 48 member countries. 
• Consanguinity: You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.

Type of contract and duration

• Type of contract: Products and External Services Consultant (PEC)
• Length of contract: 3 months
• Work Location: Remote.

Our culture

At the IDB, we work so everyone brings their best and authentic selves to work while finding their purpose. Our people consistently strive for excellence, and we recognize and celebrate the impact of their contributions.

In our efforts to drive innovation, we intentionally include all voices, cultivate a sense of belonging and champion fairness. We welcome individuals from underrepresented groups to join us and share their unique perspectives.

We ensure that individuals with disabilities are provided reasonable accommodations to participate in the job interview process. If you require an accommodation to complete this application, please email us at accommodations@iadb.org.