Who We Are
The NZX Group
The NZX Markets Business and a range of market-related value-add businesses make up the NZX Group.
NZX is an infrastructure, information and service provider right across the market spectrum. In the last two years the NZX Group has expanded and diversified with the acquisition of businesses and strategic investments aligned with core business purpose.
NZX Markets Business
The three securities markets (NZSX, NZAX and NZDX) form a diverse offering for companies wishing to raise capital and investors looking for secure and liquid investment products. In addition, NZX is responsible for the ongoing surveillance and regulation of New Zealand's securities markets.
NZX Market Information Business
The core NZX Data business offers a comprehensive suite of data products and indices. NZX has made five acquisitions within this space since 2006 and now provides data and research right across the capital market, managed fund and agricultural sectors.
NZX Agrifax provides rural market data in the New Zealand primary sector and 2008 acquisition of The Dairy Marketing Group in Australia (who produce the Dairy Week bulletin) has extended reach to the Australian market. FundSource provides managed funds research, and NZX Data Company Research Service offers packaged data solutions for comprehensive financial research. NewsRoom is an information tool for daily breaking and archived news monitoring.
NZX Subsidiaries and Strategic Investments
Smartshares is a wholly-owned subsidiary of NZX. As at 31 July 2008, Smartshares had $698 million in funds under management. Smartshares manages five listed, exchange traded funds (ETFs), all of which are registered as Portfolio Investment Entities (PIEs). Smartshares also has its own KiwiSaver scheme, Smartkiwi®. Smartshares funds provide investors with an easy, transparent and low cost way to create a diversified investment in both the New Zealand and Australian sharemarkets.
Link Market Services ("Link") 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. Link now has approximately 30% of the New Zealand registry business by number of issuers. In 2007 Link captured approximately 40% of IPOs by number.
AXE ECN in Australia is a business that will inject competition into the market in Australia and enable NZX to apply market operation and regulation expertise offshore. AXE ECN is a joint venture between NZX and five major broking firms (Citigroup, Goldman Sachs, Commonwealth Securities, Merrill Lynch, Macquarie). Phase one, a crossings platform is expected to start trading in the first half of 2008. Full trading is expected to commence in the September quarter of 2008.
TZ1 Market aims to facilitate transparent environmental commodities markets to reduce global carbon emissions. Utilising the NZX market infrastructure, TZ1 offers a robust fully integrated platform for carbon.
The TZ1 Carbon Registry supports transacting in high quality voluntary carbon credits and through a credible, externally audited retirement facility, enables companies to retire those credits permanently. The TZ1 Carbon Exchange offers a regulated marketplace for trading, clearing and settling compliance and voluntary carbon credits.
TZ1 is situated in the first time zone, enabling the market to bridge the US and Asian markets throughout the trading day from New York to Chicago, to Auckland, to Sydney to Tokyo, Hong Kong and Singapore.
Appello Services Limited 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).