Who We Are

About NZX

NZX's strategy is building and growing markets, with expertise applied across the securities, energy and agri-business sectors.

NZX operates the securities and energy markets in New Zealand, and is committed to developing these markets for the benefit of stakeholders. NZX believes that agricultural markets in New Zealand will grow and that NZX can support these developments with the provision of market infrastructure and agri-business data and information. NZX plans to launch a whole milk powder futures contract that will enable dairy participants worldwide to hedge price risk in the whole milk powder market. NZX also operates four agricultural data and information businesses.

NZX owns exchange traded fund provider Smartshares and FundSource, a managed fund research business. Other NZX investments include share registry Link Market Services, of which NZX owns 50% and fund management administration business Appello Services of which NZX is 30% owner. NZX is also actively seeking domestic and international investment opportunities to further grow its footprint.

In 2009, NZX sold the assets of TZ1 Registry to international financial services company Markit for a net gain of $52.1 million. TZ1 Registry is now known as Markit Environmental Registry. NZX also sold its 22% shareholding in the Bond Exchange of South Africa (BESA) in 2009 for $10.2 million, an 83% gain on investment. NZX has also partnered with five major investment banks to launch an electronic communications network in Australia, pending the granting of an Australian Market Licence (AML).

NZX Group Profile

Securities Markets

The NZX Capital Markets (NZSX, NZAX and NZDX) form a diverse offering for companies wishing to raise growth capital and investors looking for secure and liquid investment opportunities.

Energy Markets

NZX acquired electricity market operator The Marketplace Company Limited (M-co) in April 2009. M-co has 16 years' experience in the design, build and operation of electricity and gas markets both domestically and globally. Key services provided by the NZX Energy business are market design, market development and market operations including pricing, trading, billing, reconciliation, registry services and information and analysis. Up to 80,000 bids and offers are submitted daily via the New Zealand electricity market.

Agri-business

The NZX Agri-businesses comprise NZX Agrifax, an agricultural pricing and information service, Dairyweek, a weekly dairy industry news abstract service,  Profarmer Australia, a grain pricing and information service, Newsroom, an online provider of subscription customised news feeds and a publishing arm which produces a range of rural titles and subscription based magazines including The NZ Farmers Weekly, Country-Wide North, Country-Wide South, Heartland Sheep, Heartland Beef, NZ Dairy Exporter, Deer Farmer and Young Country. These publications reach all 86,000 farmers in New Zealand at least once every week.

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 is a major provider of comprehensive data and information for the agricultural sector, with particular strength in the dairy and grain industries.

NZX Data

NZX Data provides real-time, delayed, end of day and historical data to customers generated by trading activity on NZX's markets and is available directly from NZX or through licensed Data Distributors.

Subsidiaries and Principal Investments

Smartshares

Smartshares manages five passive funds that track the NZX 50 Portfolio Index, NZX 10 Index, NZX MidCap Index, Australian S&P/ASX MidCap 50 Index and the S&P/ASX 20 Index. Smartshares also runs three SmartKiwi funds with conservative, balanced and growth investment options for KiwiSaver investors.

FundSource

FundSource provides fund managers and financial intermediaries both qualitative and quantitative research on over 800 investment funds including unit trusts, personal superannuation schemes, insurance bonds and KiwiSaver funds. FundSource provides research on managed funds and industry information and tools to Financial Advisors. FundSource also runs an annual conference,  a key industry event for fund managers and advisers and the FundSource  Annual Fund Manager of the Year Awards.

Link Market Services

Link Market Services  is a 50:50 joint venture company between NZX and Link Market Services Australia (owned by Pacific Equity Partners). Link provides a full range of registry services for both listed and unlisted issuers in New Zealand.

Appello Services

Appello is a start-up fund management services business which provides a set of fully electronic administrative and compliance services for New Zealand and Australian fund managers. Appello was established in response to the increasingly complex technology needs of fund managers, including those created by the PIE tax regime.

AXE ECN

NZX, Citigroup, CommSec, Goldman Sachs JBWere, Macquarie Bank and Merrill Lynch are signatories to a shareholders' agreement, incorporating a company to launch a new Australian ECN (Electronic Communications Network). The introduction of competition in other jurisdictions has led to improved liquidity, lowered costs and competitive responses from the incumbent exchanges. After lodging a complete application for an Australian Market licence in Q1 2007, AXE ECN has been waiting for the Australian government to process this application.