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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) Mr Peter Hiom Business Committee Chair, Deputy CEO
Australian Securities Exchange (ASX) Mr David Raper Executive General Manager, Trading Services
Australian Shareholders’ Association Ms Fiona Balzer Policy & Advocacy Manager
Australasian Investor Relations Association  Mr Ian Matheson Chief Executive Officer
Automic Mr Paul Williams Executive Director
Bank of America Merrill Lynch  Mr Stephen Hacker Director, Head of Operations
Bell Potter Securities Mr Rodd Kingham Head of Operations - Transformation
BNP Paribas Mr Mark Wootton Head of Custody Product Australia & New Zealand 
Chi‑X Australia Mr Mike Aikins  Chief Operating Officer 
Citi Mr Miles O’Connor Director, Direct Custody & Clearing Securities & Funds Services
CMC Mr Andrew Rogers  Director of Broking Business
Commonwealth Bank of Australia Mr Sheridan Thompson Head of Strategic Development, CommSec
Computershare  Mr Scott Hudson Head of Intermediary Services
Credit Suisse Mr Winston Loke Australia Equities COO
Deutsche Bank AG Mr Geoffrey Plaisted Chief Operating Officer, Equities
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
Macquarie Group Mr James Indge Cash Equities Business Manager 
Morgans Mr Peter Chisholm Manager, Transactional Services & Settlement Systems
Morgan Stanley Ms Rebecca Hill Chief Operating Officer 
National Australia Bank  Ms Anita Mead Head of Business Management, Self-Directed Wealth
NSX Mr John Williams Head of Admissions
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 2020 Business Committee meeting dates are:

8 April 2020 12:00pm – 2:00pm
22 July 2020 12:00pm – 2:00pm 
28 October 2020 12:00pm – 2:00pm 
7 December 2020 12:00pm – 2:00pm

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

 

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.