Which body is the elected governing body of the exchange?

Which body is the elected governing body of the exchange?

• A. Board of Directors
• B. Board of Governors
• C. Management Committee
• D. Supervisory Board

Answer: (B)

Governance of an exchange is carried out by the body elected by its members to steer policy and oversee leadership. The Board of Governors fits this role because it is chosen by members to shape major rules, budgets, and the overall direction of the exchange, providing accountability to the membership. The other bodies perform different functions: a Board of Directors typically governs a company rather than an exchange's member-driven policy body; a Management Committee handles daily operations; a Supervisory Board exists in some systems as an oversight layer but is not the elected governing body in this context.

Governance of an exchange is carried out by the body elected by its members to steer policy and oversee leadership. The Board of Governors fits this role because it is chosen by members to shape major rules, budgets, and the overall direction of the exchange, providing accountability to the membership. The other bodies perform different functions: a Board of Directors typically governs a company rather than an exchange's member-driven policy body; a Management Committee handles daily operations; a Supervisory Board exists in some systems as an oversight layer but is not the elected governing body in this context.