The Market Supervision Committee (MSC) has been set up by APX to provide a body which is independent of the board, to review APX's ongoing regulation of its market and compliance with the terms of its ASIC assigned market license.
The committee is required to meet bi-monthly to monitor what extent APX complies with each of its policy documents. These documents consist of the Compliance Plan, the Conflict Management Plan, the written policies and procedures of the Company; and the Terms of Reference.
The Market Supervision Committee also plays a proactive role in improving the compliance procedures of the exchange by providing an annual written report. This report details whether the previously mentioned key documents are adequate as well as recommending changes to the compliance procedures and/or the financial, technological and human resources employed, to ensure that the Company has the capacity to fulfill its obligations under its Key Documents.
An important aspect of the Asia Pacific Exchange framework is its ability to update its regulation practices efficiently to adapt to changing market and compliance environments. The communication link by the MSC to the APX Board about possible improvements to compliance procedures enable the APX to run its exchange in a highly specialized manner which benefits all its participants.
The APX Market Supervision Committee monitors the exchange’s compliance plans, conflict management and all policies and procedures. The MSC is an independent committee to ensure that the market operates under a fair, orderly and transparent environment.
The MSC provides written reports to both the Board of APX and ASIC of its findings on the compliance and supervision of the operations of APX. It also reports any material breaches or suspected material breaches of compliance and conflict management to the board as well as reporting breaches of the Corporations Act, and the rules and conditions of the Market License of APX to the board.
As discussed earlier the MSC also plays an important role in Conflict Management and addressing any issues where there may be a material interest conflict.
The Market Supervision Committee (MSC) has been set up by APX to provide a body which is independent of the board, to review APX’s ongoing regulation of its market and compliance with the terms of its ASIC assigned market license.
The committee is required to meet bi-monthly to monitor what extent APX complies with each of its policy documents. These documents consist of the Compliance Plan, the Conflict Management Plan, the written policies and procedures of the Company and the Terms of Reference.
The Market Supervision Committee also plays a proactive role in improving the compliance procedures of the exchange by providing an annual written report. This report details whether the previously mentioned key documents are adequate as well as recommending changes to the compliance procedures and/or the financial, technological and human resources employed, to ensure that the Company has the capacity to fulfil its obligations under its key documents.
An important aspect of the APX framework is its ability to update its regulation practices efficiently to adapt to changing market and compliance environments. The communication link by the MSC to the APX Board about possible improvements to compliance procedures enables the APX to run its exchange in a highly specialised manner which benefits all its participants.