ASX Gets a New CEO, Appointing Dominic Stevens in Latest Move

ASX Board has appointed Dominic Stevens as its Managing Director and newest CEO. He has served on the board since 2013 and steps into the new role with immediate effect, according to an ASX statement.

The appointment follows after the departure of the ASX’s former Managing Director and CEO, Elmer Funke Kupper in March, who had been with the company since 2011. Since then, ASX Chairman Rick Holliday-Smith had overseen the vacant position of CEO on an interim basis. For his part, Mr. Stevens originally joined ASX as an independent non-executive director back in late 2013. Since then, he has served on the Audit and Risk Committee, with additional stints on several of ASX’s Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term and Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term boards.

Veteran Appointment

Mr. Stevens steps into his new leadership role at the ASX after more than three decades of experience in financial markets space. Prior to joining ASX, he served as the CEO of Challenger from 2008 to 2012, as well as positions as its Deputy CEO and head of capital, risk and strategy.

According to ASX’s Chairman and former interim CEO, Rick Holliday-Smith, in a recent statement on the appointment: “Dom’s long involvement in financial markets, his experience as a CEO and his time as a director means the ASX Board is delighted and confident in making this appointment. He is popular and highly regarded by ASX’s Board, staff and major stakeholders. Dom is ideally qualified to lead the company and build on ASX’s achievements.”

“The financial markets are dynamic and ASX will continue to adapt to the changing conditions and needs of its customers. I am looking forward to working more closely with the talented people at ASX, and taking the company’s competitiveness and strong commitments to innovation and customer service to the next level,” noted Mr. Stevens in an accompanying statement.