Friday, April 19, 2024

Round-up: GDT oversight board has been established

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GlobalDairyTrade has published amended market rules and the charter to establish the GDT oversight board, which replaces the previous advisory board with effect for TE155 on January 5, 2016. This follows a public consultation process that achieved 93% support for strengthening GDT governance with an oversight board. See the stakeholder consultation summary in the announcement on August 21, 2015.
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The GDT oversight board ensures that the GDT platform is managed and developed in an independent, neutral and transparent manner.

The board will comprise an independent chairperson and a balanced representation of GDT participants and financial market members.

Oversight board members will meet 3–4 times a year to monitor GDT’s compliance with appropriate governance practices and to vote on any proposed changes to the GDT market rules.

The amended market rules and the charter also establish an independent rulings panel for assessing formal complaints from participants.

Details are available in the latest version of the GDT market rules, and the oversight board charter.

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