NSX group is part of the Canadian Securities Exchange group of companies. The Board of NSX Limited is ultimately accountable for the performance of the business. NSXL is the holding company of the National Stock Exchange of Australia Limited which holds an Australian Market Licence to operate as a stock exchange in Australia.
Tim Hart
Chair, Independent, Non-Executive Director
Bachelor of Science, Master of Management, Master of Marketing, Master of Education
Appointed February 2020
Mr Hart was the Managing Director & Chief Executive Officer of Ridley Corporation Limited (ASX: RIC). His varied experience covers general management, strategic marketing, sales, and logistics. Before joining Ridley, Mr Hart was the CEO of Sugar Australia for eight years, after a long career inthe fast-moving consumer goods industry with SCA and in packaging with Carter Holt Harvey, ACI and Amcor.
Mr Hart is a Fellow of the Australian Institute of Company Directors and of the Institute of Managers and Leaders (Australia and New Zealand).
Mr Hart has two postgraduate diplomas from Said Business School, The University of Oxford (Strategy & Innovation and Organisational Leadership) and holds a number of degrees from The University of Melbourne – Bachelor of Science, Master of Management and Master of Marketing and Master of Education.
Max Cunningham
Managing Director and Chief Executive Office
Appointed June 2024
Max Cunningham has had an extensive career in capital markets and leadership roles in Australia.
Prior to joining NSX, Max was Group Executive of Listings at ASX, responsible for the origination of listed equity and investment products on the Exchange.
During his decade at the ASX, Max oversaw the strongest growth in company listings on the bourse and was instrumental in the ASX’s success attracting a record number of tech companies and New Zealand companies onto the Exchange. He oversaw the launch of the only new equity index this century, the S&P/ASX All Tech Index. He left the business with a record $90.3 billion in capital raised over the first half of FY22 and the ASX welcoming 150 new listings in the same period.
Prior to ASX, Max was Partner & Head of Equity Capital Markets with Goldman Sachs in Australia. He previously spent time with Goldman Sachs in New York and with Macquarie Bank in London and Sydney.
Kelly Humphreys
Independent, Non-Executive Director
MMGT, GAICD, FAIM, Dip Fin Serv
Appointed June 2020
Kelly is an experienced non-executive director and accomplished financial services professional with current board roles across diverse sectors including building regulation, health and financial services. She is also Chair of Audit, Finance and Risk Committees.
Kelly has extensive senior executive experience in financial services and a depth of technical expertise in operations, risk management and governance. She brings a strong commercial approach to achieving objectives in complex regulatory environments and demonstrated ability in engaging stakeholders and working effectively to deliver growth and improved performance.
Barnaby Egerton-Warburton
Independent, Non-Executive Director
Bachelor of Economics (Murdoch)
Appointed April 2022
Barnaby has over 25 years of investment banking, international investment and market experience with position at JP Morgan (New York, Sydney, Hong Kong), BNP Equities (New York) and Prudential Securities (New York). He is a founder and partner of Modena. Barnaby has a broad range of experience across start-up funding, trade sales, buyouts, M&A and IPO''s.
Steven Hammerton
Independent, Non-Executive Director
Bachelor of Science (Loughborough University, UK)
Appointed June 2025
Mr. Hammerton is a highly experienced global markets professional and non-executive director, with more than 25 years of expertise spanning Equities, Futures, Electronic, and Quantitative Trading. Until 2024, he served as Head of Australian Cash and Futures Equities Execution at UBS, where he played a key role in shaping execution strategy and enhancing market engagement. In previous leadership roles at UBS, he managed all aspects of cash, quant, and futures electronic agency trading across the Asia-Pacific region. His remit included client strategy, regulatory compliance, product development, and algorithmic trading across major markets including Hong Kong, Japan, China, Singapore, Korea, and Australia. Mr. Hammerton also served as Chair of the Australian Financial Markets Association (AFMA) Equity Steering Group, contributing to the development of industry standards and market policy. He currently holds a Non-Executive Director position at Trading 212 AU Pty Ltd and is a graduate of the Australian Institute of Company Directors.
Richard W. Carleton
Non-Executive Director
BA (University of Ottawa, Canada), LLB (University of Toronto, Canada)
Appointed November 2025
Mr Carleton is the CEO of the Canadian Securities Exchange. Mr. Carleton joined the CSE in November 2005 as VP Corporate Development, with responsibility for the exchange’s trading, market data and technology teams. He was subsequently appointed CEO of the organisation July 2011. Since then, Richard and the CSE team have positioned the exchange to take a leading role in the provision of public capital to entrepreneurial companies, and set a series of records for new listings, capital raised by issuers and trading turnover.
In addition to his responsibilities with the CSE, Richard is Chair of Tetra Trust, an Alberta recognised trust company focused on custody services for digital assets, and is a board member of Blue Ocean ATS, a US ATS that provides trading in Reg NMS securities between 8 pm and 4 am Eastern Time, and a director of Safe Harbor Financial, as Nasdaq-listed financial technology firm that secures banking and related services for the legal cannabis industry in the United States.