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New members join GDT Events Oversight Board

24 March 2022

The GDT Events Oversight Board is an independent oversight body established to monitor the twice-monthly Trading Events held by Global Dairy Trade (GDT).  It ensures that the GDT Events trading platform is operated and developed in accordance with the guiding principles and to represent the interests of the parties trading on the platform.

The Board may comprise an independent chairperson and a balanced representation of GDT participants, and financial market or independent parties with markets and/or governance expertise. Oversight Board members meet several times per year to monitor GDT’s compliance with appropriate governance practices and vote on any proposed changes to the GDT Trading Event Rules.

The GDT Events Oversight Board has begun a new three-year term through to 31 December 2024.

Bill Shields, an Australian-based economist and non-executive director, has been reappointed as Chairman of the GDT Events Oversight Board. A mix of new and existing members representing Bidder, Seller and Finance and Markets Groups have been appointed.

The new members and their representatives are:

  • Jessica Lee Hiu Sun of Zhongshan Right On Trading Co. Ltd, and Rushikesh Ved of Majan Food Industries LLC as Bidder Group members,
  • Patricia Smith of DairyAmerica, Inc., U.S.A, as a Seller Group member, and
  • Singapore Exchange Limited (SGX) represented by Nick Morris of NZX as part of the NZX-SGX dairy derivatives partnership as a Finance and Markets Group member.

The returning members and representatives are;

  • Kimberly Fisk of Nestrade S.A as a Bidder Group member,
  • Thomas Carstensen of Arla Foods amba and Bruce Turner of Fonterra Co-operative Group Ltd as Seller Group members, and
  • Liam Fenton of StoneX Financial Inc as a Finance and Markets Group member.

The third elected position in the Finance and Markets Group is vacant pending future appointment.   

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