The Milk Exchange is committed to ensuring that its systems, procedures and practices reflect a high standard of governance.
The Milk Exchange considers that the governance framework will provide clear guidance on how authority is exercised and will promote a culture of compliance, ethical behaviour, integrity and respect to protect stakeholder interests.
- Milk Exchange is an open trading platform for buying and selling physical milk products in Australia.
- The Milk Exchange is open to all qualified buyers and sellers of milk products.
- Integrity of the Milk Exchange and underlying trades is paramount and is maintained through:
- Minimum user registration requirements, including a buyer credit assessment;
- A standard buy/ sell contract.
- Milk Exchange facilitates trades only. Milk Exchange does not own the underlying physical product traded and payments for the product passes directly from the buyer to the seller and not through the Milk Exchange.
- Milk Exchange is independent from Milk2Market.
- Milk Exchange is structurally separate from Milk2Market;
- Milk2Market is not permitted to trade milk or dairy products on the Milk Exchange in its own right; and
- The use of Milk2Market services is not a mandatory requirement for users of the Milk Exchange.
- An independent governance committee will be established that reports regularly publicly on compliance with the governance framework.