AFMA promotes best practice in financial markets so they continue to maximise their contribution to the economic health of Australia and facilitate self-management of the OTC markets. AFMA Market Committees assist in these objectives and are critical to ensuring the efficient operation of Australia's OTC markets by managing their conventions, practices and documentation.
AFMA's widely-accepted industry standards for transaction processing, which are developed by the Market Committees, ensure that operational aspects of financial transactions, in particular confirmation, settlement, reconciliation and risk management processes are globally-recognised best practice.
Market Committees are elected by market participants every two years (next election in 2023). The Market Governance Committee which has oversight of the Market Committees, develops market protocols and standards for the efficient running of Australia’s financial markets with the help of the Market Committees. For more detail on how Market Committees operate, view the Market Committee Guidelines.
Market Committee Structure