AXE ECN today appointed Susan Bray as Acting CEO
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NZX Limited (NZX) | 12:35 pm, Friday 22 August 2008 | NZX | 5.500 |
 -0.100 |
(-1.79%) |
22 August 2008 - The Board of AXE ECN today appointed Susan Bray as Acting
CEO following the resignation of Greg Yanco.
AXE Chair, Mark Weldon, said: "AXE is now at a stage where it is ready to
begin business as a market operator. Greg has done an excellent job in
getting this business to a position where a licence is imminent and customers
are connected and ready to go.
"Susan Bray has been our Head of Regulatory and Market Policy for the past
two years and has been responsible for developing AXE's regulatory and
supervision model, the integrity of which is essential to our application to
the Federal Government for a market licence.
"Her background and experience in senior regulatory and supervisory roles at
ASX, including as head of Regulatory Policy at ASX, equips her very well to
steer the organisation, particularly through this final stage prior to a
decision on our licence."
Ms Bray said: "I have worked with AXE for the past two years and am delighted
to be in this role when we see a new era of competition in the Australian
capital markets. The entry of AXE will bring greater liquidity, reduce costs
and enhance the status of Australia as a financial services hub.
"AXE will continue to work with government and regulators to further develop
our market supervision capabilities so the government can confidently allow
AXE to operate under a framework which promotes the highest levels of market
integrity."
All the AXE shareholders remain fully committed to AXE's success as it
prepares to go live. The AXE technology and operational systems are primed
and ready to go, under the management of the current AXE team.
AXE ECN is a high-speed, low-cost platform that separates listing from
trading functions. ECNs are already delivering improved pricing, technology
and innovation in all leading global markets.
AXE ECN is a joint venture between NZX, Citi, CommSec, Goldman Sachs JBWere,
Macquarie Securities and Merrill Lynch.
(Susan Bray's CV is attached.)
Contact:
Gabrielle Trainor Rowan Macrae
+61 2 9232 1033 +64 4962874; mob +64 274 727599
