MARKET GOVERNANCE BOARD (MGB)
The Market Governance Board (MGB) is composed of nine governors, with four governors representing different market sectors covered by securities regulations [issuers, intermediaries (dealers and brokers), and investors], four independent governors, and a governor representing PDEx as market operator. The MGB is responsible for creating and enhancing existing rules that will benefit its Market.
The MGB operationalizes its rule-making function through its standing Committees, each chaired by an Independent Governor. These Standing Committees include: (a) the Trading Committee as the forum for dealers and brokers; (b) the Settlement Committee as the forum for settlement officers; (c) the Listing Committee as the forum for heads of underwriting units; and (d) the Systemic Risk Committee as the forum for the chief risk officers of the PDEx Trading Participants. The creation of focus areas is intended to ensure that each forum dedicates time and study to areas within the expertise and experience of its members so that the resulting regulations are relevant and practical.