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Business Committee

The ASX Business Committee was convened by ASX Limited (ASX) under its Code of Practice in August 2013

In October 2016, ASX updated its Code of Practice (the ASX Cash Equities Clearing and Settlement Code of Practice) to set out its commitment to comply with the Regulatory Expectations for the Conduct of Cash Equity Clearing and Settlement Services in Australia (Regulatory Expectations), and its commitments to users in managing clearing and settlement infrastructure and services for the Australian cash equities market.  Under the revised Code of Practice, the role of the Business Committee was updated as a mechanism for input in to ASX’s governance framework.
 

Role of the Business Committee

The role of the Business Committee is to provide:

  • input for consideration by ASX Management and the Boards of ASX Clear and ASX Settlement on the ongoing operation of cash equities clearing and settlement infrastructure and services provided by ASX;
  • input for consideration by ASX Management and the Boards of ASX Clear and ASX Settlement on setting the ASX investment strategy for cash equities clearing and settlement infrastructure and services development, and the system design, operational arrangements and implementation plan for new cash equities clearing and settlement infrastructure and services provided by ASX;
  • advice to ASX Management to assist in progressing cash equities clearing and settlement initiatives of interest to the industry, with the aim of facilitating service innovation and improving overall market efficiency; and
  • a mechanism for ASX Management and the Boards of ASX Clear and ASX Settlement to consult clearing participants, settlement participants and other market operators regarding their strategic plans and investment decisions in relation to the design, operation and development of the core clearing and settlement infrastructure and services for the Australian cash equities market.

The Business Committee comprises representatives of clearing participants, settlement participants, approved market operators, other relevant stakeholders and their associated industry organisations.  The objective for the Business Committee is for it to comprise executives with a deep understanding of clearing and settlement, for example, Chief Operating Officers. 

 

Business Committee membership

Company Name Title
ABN AMRO Clearing Mr Barry Parker Chief Executive Officer
AFMA Mr David Lynch Chief Executive Officer
Australian Custodial Services Association Mr Rob Brown Chief Executive Officer
Australian Securities Exchange (ASX) Val Mathews Business Committee Chair-elect, Chief Customer & Operating Officer
Australian Securities Exchange (ASX) Helen Lofthouse Group Executive, Markets
Australian Shareholders’ Association Ms Fiona Balzer Policy & Advocacy Manager
Australasian Investor Relations Association  Mr Ian Matheson Chief Executive Officer
AUSIEX Mr Mat Tilley Head of Markets & Client Solutions
Bank of America Merrill Lynch  Mr Stephen Hacker Director, Head of Operations
Bell Potter Securities Mr Robert Tesoriero Settlements Manager
BNP Paribas Mr Mark Wootton Head of Custody Product Australia & New Zealand 
Chi‑X Australia Mr Mike Aikins  Chief Operating Officer 
BoardRoom Martin Jones General Manager Corporate Governance & Director
Citi Lyall Herron Program Manager
CMC Mr Andrew Rogers  Director of Broking Business
Commonwealth Bank of Australia Mr Sheridan Thompson Head of Strategic Development, CommSec
Credit Suisse Mr Winston Loke Australia Equities COO
Goldman Sachs Ms Yen Le Executive Director 
Governance Institute of Australia Ms Megan Motto Chief Executive Officer
HSBC Ms Nichole Alexander Manager, Aust Market Advocacy and Development
J.P. Morgan Mr Jonathan Evans Head of Custody and Markets Operations
Link Market Securities Peter Jackson Chief Operating Officer
Macquarie Group Mr James Indge Cash Equities Business Manager 
Morgans Mr Daniel Spokes Director, Client Support Services
Morgan Stanley Ms Rebecca Hill Chief Operating Officer 
National Australia Bank  Ms Anita Mead Head of Business Management, Self-Directed Wealth
NSX Mr Chan Arambewela Chief Operating Officer
Pershing Securities Mr Leigh Conder Chief Operating Officer
Stockbrokers and Financial Advisers Association Ms Judith Fox  Chief Executive Officer
Sydney Stock Exchange Mr Antony Tolfts Director – Market Supervision & Listing Compliance
UBS Mr Conor Foley Chief Operating Officer

Business Committee Meetings

Meetings of the Business Committee are held quarterly unless the Committee determines that more meetings are required to discuss particular matters.

The 2021 Business Committee meeting dates are:

14 April 2021 12:00pm – 2:00pm
14 July 2021 12:00pm – 2:00pm 
6 October 2021 12:00pm – 2:00pm 
8 December 2021 TBC

All Business Committee meetings are held at ASX Limited, 20 Bridge Street, Sydney NSW 2000, and/or by teleconference as required.

 

Business Committee agendas, meeting papers and minutes

Technical Committee

In some circumstances, it may be appropriate for the Business Committee to appoint and convene technical committees to assist in the performance of its role.  A Technical Committee comprising ASX (Chair) and industry representatives has been formed to focus on CHESS messaging and the adoption of  ISO 20022 messaging.  The adoption of ISO 20022 is a major work‑stream for the CHESS Replacement project and members of the Technical Committee will be involved in the detailed work associated with this work‑stream.