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GDT invites feedback on proposed rule changes

13 May 2019

Global Dairy Trade (GDT) invites you to provide feedback on proposed changes to the GDT Events Oversight Board Charter and Rulings Panel, and the GDT Trading Event Rules.  
 
The GDT Events Oversight Board has reviewed the proposed changes and will vote on them following completion of public consultation. 
 
The proposed changes to the GDT Events Oversight Board Charter and Rulings Panel include amending the size, composition and tenure of the Oversight Board members. These changes will enable the Oversight Board to operate more effectively in applying its oversight responsibility for GDT Events, and in providing advice to GDT on the development of its business strategies and related initiatives.
 
An explanation of this proposal is available for viewing here.

The proposed changes to the GDT Trading Event Rules arise from three separate developments:

a) The outcome of the Oversight Board’s review of its effectiveness which resulted in a proposal to expand its formal role;

b) Discussions between GDT and NZX on sharing certain information to ensure physical and financial market participants retain their confidence in both markets;

c) The upcoming launch of the new GDT Events trading platform with new and enhanced features that need to be accommodated in the rules.

An explanation of this proposal is available for viewing here.
 
If the Oversight Board approve the rule changes, NZX and GDT will sign an information sharing agreement. The purpose of this agreement is for each party to assist the other party in investigating possible trading anomalies by providing, where appropriate, information on the trading activity of individual participants relevant to an investigation. 

An explanation and copy of the proposed agreement is available for viewing here. 
 
Bill Shields, Chairman of the Oversight Board, comments “The Oversight Board unanimously supports these changes which are aimed to strengthen the governance, market surveillance and ultimately confidence in the operation of GDT Events”.
 
GDT invites you to provide feedback on the proposed changes by Wednesday 5 June 2019.
 
Please submit your feedback via email to help@globaldairytrade.info and include the subject header: “Feedback on proposed rule changes May 2019”.

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