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NZX bolsters tech governance by appointing exchange technology expert

NZX bolsters tech governance by appointing exchange technology expert

Appointment comes in the wake of a series of technology issues, including a major denial of service attack

James Miller (NZX)

James Miller (NZX)

Credit: Supplied

The New Zealand Stock Exchange, which was brought down last year by large denial of service attacks, has appointed a specialist expert in stock exchange systems to the board's new technology sub-committee.

Peter Jessup brings more than 35 years’ of experience, mainly in stock exchange and related areas, including trading and post trade systems. 

NZX chair James Miller said the appointment reflected the need for high quality, specialist expertise to underpin governance supporting the resilience and stability, and further evolution of NZX’s technology framework.

NZX’s technology committee was permanently established in November last year to provide specialist governance oversight of the role and use of technology in executing NZX’s strategy.

In December, the NZX accepted it needed to further invest in technology and skills and said some charge-back of those costs to participants was likely.

Before establishing an independent consultancy in 2018, he was senior vice president at Nasdaq’s global technology services group, leading an international team of engineers and over 250 support personnel across four geographic locations.

In his 23-year tenure at Nasdaq, Jessup oversaw the development of several products including the X stream matching platform, which became the fastest matching system in the world. 

He previously worked for the New Zealand Stock Exchange designing and developing the Faster DvP settlement platform and the implementation of automated trading technology.

“Peter’s broad range of skills is second-to-none – especially when paired with his deep understanding of stock exchanges," Miller said. 

"It is extremely valuable to us that he will be applying those skills and deep knowledge back to NZX and for the benefit of the future of New Zealand’s capital markets.”

Sydney-based Jessup replaces former TradeMe CEO Jon Macdonald on the committee following his retirement from the NZX board. 

He joins chair John McMahon and Richard Bodman, who collectively bring strong governance experience and IT knowledge from the financial sector.


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