The LME Clear Board of Directors is responsible for providing leadership, either directly or through its committees, to deliver long-term value to shareholders and other stakeholders.
The Board of LME Clear (the Board) retains overall responsibility for the management of LME Clear. It delegates the day-to-day management to the Executive Committee (ExCom) which is supported by the LME Clear management team representing the key functional areas of the organisation (operations and technology, risk, business development, legal and compliance). The Board of LME Clear is solely responsible for setting the strategy of LME Clear.
In setting the strategy, the Board will consider the views of all stakeholders including the HKEX Group, regulations and an appropriate balance between commercial and risk mandates in determining what is appropriate for LME Clear. LME Clear will remain responsible and accountable for the good management and performance of LME Clear and will ensure that it has a competent management team to which the Board has properly and effectively delegated the day-to-day management of LME Clear. The Board seeks to promote and maintain the highest standards in relation to the operations of LME Clear, and, in this, is fully supported by HKEX Investment (UK) Limited (HKEX UK) and, ultimately, HKEX, the Group parent company.
The constitution of the Board is defined in the Articles of Association of LME Clear. The Board comprises:
- one executive director (the LME Clear CEO)
- five non-executive directors
- four independent non-executive directors
In respect of the independent directors, all four are appointed by the Board. The remaining five directors are nominated by the shareholder and appointed by the Board.
As of 31 December 2023, the directors are as follows: