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In order to maintain a more fair, transparent and efficient trading market, the Singapore Global Ginseng Exchange (SGGEx) has established a mature and balanced matrix organization structure. SGGEx’s board is the focal point of the corporate governance system and is ultimately accountable and responsible for the performance and affairs of the company. In accordance with its Articles, the Board of the SGGEx has delegated authority for the implementation of Board decisions.
SGGEx’s board established four main corporate division led by the CEO, including Sales & Marketing division, Operation division, HR & Administration division and legal affairs & risk management division. The main functions of each division are as follows:
1. Sales & Marketing division: Responsible for sales & marketing during commodity listing.
2. Operation division: Responsible for the day-to-day operations of the trading system.
3. HR & administration division: Responsible for the day-to-day human resource and administration of the exchange.
4. legal affairs & risk management division: Responsible for maintaining exchange rules and controlling system risks.
In addition, the board of directors established several committees to take charge of certain tasks such as the Listed Executive Committee (LEC) and the Audit Risk Control Committee (ARMC). The Listed Executive Committee (LEC) is responsible for handling listing applications in the market, maintaining the SGGEx listing rules and other specific implementation matters. The Audit Risk Control Committee (ARMC) assesses and reviews system risks on a regular and non-periodical basis and gives suggestions for improvement in order to protect the interests of all parties