New Zealand Stock Exchange

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New Zealand Exchange
NZX Logo.png
Headquarters New Zealand
Products Securities and energy derivatives
Website http://www.nzx.com/

The New Zealand Exchange (NZX) operates equity, debt, derivative and energy markets in New Zealand. The NZX was ranked as the world's 48th-largest derivatives exchange by volume in 2010 according to the annual volume survey published by the Futures Industry Association (FIA).[1] As of March 2013, NZX equity markets have a total market capitalization of $82 billion.

NZX operates a global dairy derivative market with futures and options contracts.

NZX provides trades, post-trade, and data services for securities and derivatives. It also provide central securities depository service through its wholly owned subsidiary, New Zealand Clearing and Depository Corporation.

NZX owns exchange traded fund provider Smartshares and FundSource, a managed fund research business.

NZX invested in LINK Market Services Limited, a securities registry business which provides registry services to both listed and unlisted New Zealand companies, of which NZX owns 50 percent.

It also invested in Appello Services, a fund management administration business, of which it owns 30 percent. [2]

History

  • NZX acquired electricity market operator The Marketplace Company Limited (M-co) in April 2009.
  • NZX acquired Melbourne-based CLEAR Grain Exchange and CLEAR Interactive, the technology developer of the CLEAR Grain Exchange in October 2009. NZX acquired Australian Crop Forecasters in December 2009.
  • NZX launched a spot gas market which opened for trading on Sept. 2, 2013. It features monthly, weekly, daily and intraday products focused on a ‘virtual welded point’ on the Maui pipeline, which is owned and operated by Maui Development Limited.[3]
  • On February 5 of 2014, Its global derivatives markets was approved to be a Foreign Board of Trade by CFTC. [4]

Products

NZX publishes information, news, and data relating to agriculture industries in New Zealand and Australia.

NZX operates electronic grain trading platform through Clear Grain Exchange, an Australian online trading and clearing services for buyers and sellers of grain.

NZX provides passive funds management products through Smartshares’ Exchange Traded Funds and KiwiSaver Scheme, smartkiwi.

NZX operates New Zealand’s wholesale electricity market under contract from electricity authority, and Fonterra shareholders’ market.

Key People

  • Tim Bennett, CEO
  • Bevan Miller, chief financial officer
  • Mandy Simpson, head of operations
  • Aaron Jenkins, head of markets
  • Robyn Dey, head of regulation
  • David Godfrey, head of IT
  • Tony Leggett, head of Agri
  • Shane Dinnan, head of energy
  • Kathryn Jaggard, head of derivatives
  • Sam Stanley, head of exchange products
  • Ron Storey, head of Australian commodities

News

  • NZX began dairy futures trading based on the prices paid at Fonterra's fortnightly commodities auctions on October 8, 2010. It also announced that it plans to begin trading contracts in whole milk powder in the future as well.[5]

References

  1. 2010 Annual Volume Survey. Futures Industry.org.
  2. Who We Are. NZX.
  3. NZX Launches Natural Gas Market. MondoVisione.
  4. CFTC Issues Order of Registration for NZX Limited. CFTC.
  5. NZX launches trade in dairy futures. Otago Daily Times.

External links