New Zealand Stock Exchange

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New Zealand Stock Exchange
NZX Logo.png
Headquarters New Zealand
Key People Mark Peterson, CEO
Products Securities and energy derivatives
Website http://www.nzx.com/

The New Zealand Stock Exchange (NZX) operates equity, debt, derivative and energy markets in New Zealand. NZX ranked 49th in global derivative exchange volume in 2016 with over 1.8 million contracts traded, a 1.3 percent increase from the previous year, according to the FIA Annual Volume Report.[1]

NZX operates a global dairy derivatives market offering 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 offers 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, NZX's global derivatives markets was approved to be a Foreign Board of Trade by CFTC. [4]
  • Beginning the week of June 16, NZX will launch an equity derivatives market, following a year-long consultation with market participants. It will begin by offering index futures on June 16th, providing investors with additional tools for their New Zealand equity investment and risk management needs.[5]

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

  • Mark Peterson, 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.[6]

Contract Volume

Year Total Annual Volume Percent Change
2016 1,834,170 1.3%
2015 1,811,241 37.1%
2014 1,140,966 0.2%
2013 1,138,576 --

References

  1. 2016 Annual Volume Survey. FIA.
  2. Who We Are. NZX.
  3. NZX Launches Natural Gas Market. MondoVisione.
  4. CFTC Issues Order of Registration for NZX Limited. CFTC.
  5. New Zealand set for equity derivatives launch. FTSE Global Markets.
  6. NZX launches trade in dairy futures. Otago Daily Times.

External links