Following public consultation, the GDT Events Oversight Board has voted to adopt proposed changes to the GDT Events Oversight Board Charter and Rulings Panel, and the GDT Trading Event Rules. For more information on the changes, please read the previously announced public consultation papers, available here. These changes will be effective from Trading Event 241 on 6 August 2019.
The 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.
These changes have been adopted within the GDT Events Oversight Board Charter and Rulings Panel, available here.
The 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 refreshed GDT Events trading platform with new and enhanced features that need to be accommodated in the rules.
Changes a) and b) have been adopted in the GDT Trading Event Rules, available here. Change c) will be adopted in the GDT Trading Event Rules prior to the launch of the refreshed platform and will be advised at that time.