The operator of the Australian sharemarket has appointed Reserve Bank of Australia board member Heather Ridout as a non-executive director.

Ms Ridout will stand for election to the board of ASX Ltd at its annual general meeting on October 5, the company said on Wednesday.

Ms Ridout was formerly the head of the Australian Industry Group, before joining the RBA board earlier this year.

“Her expertise in public policy debates will be beneficial for the company as it navigates through a period of major change in financial market structure and regulation,” ASX chairman Rick Holliday-Smith said in a statement.