- New Zealand Exchange
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NZX Limited Founded 31 December 2002; predecessors dating back to 1870s Headquarters Wellington, New Zealand
41°17′23″S 174°46′46″E / 41.289709°S 174.779493°EKey people Mark Weldon (CEO) Website nzx.com NZX Limited (NZX: NZX) is a stock exchange located in Wellington, New Zealand. Since July 2005 it has been located in NZX Centre, the renovated Odlins building on the Wellington waterfront. As of 30 June 2009, the New Zealand Exchange had 233 listed issuers with a combined market capitalization of $49.024 billion.
Contents
History
NZX began life as a number of regional stock exchanges during the gold rush of the 1870s. In 1974 these regional exchanges were amalgamated to form one national stock exchange, the New Zealand Stock Exchange (NZSE).
On 24 June 1991, NZSE implemented a computerised trading system, and abolished the open outcry market. This computerised system was replaced with the FASTER trading system in September 1999.
On 16 October 2002 the Member Firms of the New Zealand Stock Exchange voted in favour of demutualisation, and on 31 December 2002, NZSE became a limited liability company. On 30 May 2003, New Zealand Stock Exchange Limited formally changed its name to New Zealand Exchange Limited, trading as NZX, and on 3 June 2003 listed its own securities on its main equity market.
Products
NZX operates three main markets:
- New Zealand Stock Market (NZSX), the premier equities market;
- New Zealand Alternative Market (NZAX), for smaller and growing companies; and
- New Zealand Debt Market (NZDX), for corporate and government bonds and fixed-income securities.
In addition the NZX is currently developing NZFOX, a trading facility for futures and options contracts based on NZ listed securities.
NZX has three subsidiary companies. Smartshares offers a range of exchange-traded funds as well as a KiwiSaver scheme called Smartkiwi, Link Market Services (of which NZX owns 50%) offers share registry and related services and Agri-Fax offers commercial data services relating to New Zealand agricultural products.
Hours
NZSX and NZAX; Opening Auction: 9.45am - 10.00am,[citation needed] Normal Trading: 10am - 4.45pm, Closing Auction: 4.45pm - 5.00pm
NZDX; Opening Auction: 8.45am - 9.00am, Normal Trading: 9am - 4.45pm, Closing Auction: 4.45pm - 5.00pm
A more detailed list of trading hours can be found at http://www.nzx.com/markets/key_dates/trading_hours
Regulation
NZX regulates listed companies and market participants with the aim of ensuring a transparent and efficient marketplace. NZX provides Listing Rules governing the behaviour of listed companies, Participant Rules and an accreditation programme for market participants, and real-time monitoring and surveillance of trading on its markets.
NZX is supported in its role as front-line regulator by the Securities Commission, the statutory regulator of New Zealand's financial markets although the Securities Commission has no legislative mandate to regulate NZX.
See also
External links
- NZX official website
- Smartshares
- Securities Commission
- New Zealand Shareholders' Association
- Takeovers Panel
- Small Cap Research Information on NZ's smallest listed companies
NZX 50 companies of New Zealand Air New Zealand · AMP · AMP NZ Office · ANZ · APN News & Media · Argosy Property Trust · Auckland International Airport · Cavalier · Contact Energy · DNZ Property Fund · Ebos · Fisher & Paykel Appliances · Fisher & Paykel Healthcare · Fletcher Building · Freightways · Goodman Fielder · Goodman Property Trust · Guinness Peat Group · Hallenstein Glasson · Heartland New Zealand · Infratil · Kathmandu · Kiwi Income Property Trust · Mainfreight · Methven · Michael Hill International · New Zealand Oil & Gas · New Zealand Refining Company · Nuplex · NZX · PGG Wrightson · Port of Tauranga · Property For Industry · Pumpkin Patch · Rakon · Restaurant Brands · Ryman Healthcare · Sanford · Skellerup · Skycity Entertainment Group · Sky Network Television · South Port NZ · Steel & Tube Holdings · Telecom New Zealand · Telstra · Tower · TrustPower · Vector · Vital Healthcare Property Trust · The Warehouse Group · Westpac
Former NZX50 companiesAbano Healthcare · Lion Nathan · Pike River Coal · Tourism Holdings Limited
Categories:- Companies listed on the New Zealand Stock Exchange
- Companies of New Zealand
- Stock exchanges in Oceania
- Buildings and structures in Wellington City
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