Terms of Use

1. Acknowledgement and acceptance of general terms
Your access to, use of, linking to www.nzx.com (the NZX Site), use of software or use of content on the NZX Site is confirmation that you have understood these general terms and conditions of access and use (Terms) and constitutes your agreement to be bound by the Terms. NZX Limited (NZX) reserves the right to amend the Terms at anytime and users are deemed to be aware of and bound by the amendments to the Terms upon publication on the NZX Site. Accordingly, we recommend that you review the Terms periodically and before giving or confirming to NZX or Fairfax New Zealand Limited (Fairfax) any information.

2. NZX and Fairfax
NZX and Fairfax have entered into an agreement in relation to the NZX Site. Accordingly, by accessing the NZX Site you consent to Fairfax having access to any information you provide when you access the NZX Site.

3. Ownership of content on the NZX Site
The materials displayed on the NZX Site, including without limitation, all real time or other information, text, materials, graphics, software, tools, results derived from the use of software and tools, advertisements, names, logos and trade marks on the NZX Site (Content) are protected by copyright, trade mark and other intellectual property laws unless expressly indicated otherwise on the NZX Site. All rights, title and interest in and to the Content are owned, licensed or controlled by NZX or Fairfax or the party credited as the provider of the Content.

4. Access to and Use of Content on the NZX Site
You may browse the NZX Site for your own personal use, information, research, study and educational purposes only. NZX grants to you a limited non-exclusive license to view, copy and print the Content for your non-commercial or personal use only. All copies that you make must retain all copyright and other notices that are on the version on the NZX Site. Except as provided in the previous sentence or as otherwise agreed in writing with NZX, you may not copy, store (either in hard copy or in an electronic retrieval system), use, modify, transmit, revise, reverse engineer, publish, perform, broadcast, reproduce, post, display, create a derivative work from, distribute, sell, license, rent, lease or otherwise transfer any of the Content to a third party including without limitation to others in your company or organisation for commercial use.  All requests for such permission regarding the Content must be in writing and should be sent to: NZX Limited, PO Box 2959, Level 2, NZX Centre, 11 Cable Street, Wellington, New Zealand.

Nothing in the terms shall be construed as granting to you any licence under any patent, trademark or copyright of NZX, Fairfax or any third party.

You must not use the NZX Site or the Content in any manner or for any purpose which is unlawful or in any manner which violates any right of NZX or Fairfax or which is otherwise prohibited by these Terms. Under no circumstances may the Content be used to establish, maintain or provide, or assists in establishing, maintaining or providing a stock market (other than one authorised by law) for trading of securities.

The Dow Jones Indexes are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for the NZX Site. All Content of the Dow Jones Indexes © 2007 is proprietary to Dow Jones & Company, Inc. Dow Jones Terms of Use.

5. My NZX Function
a) Access: To access the My NZX section of the NZX Site (accessible at www.nzx.com/my_nzx) ("My NZX") you will need to submit your first name and last name and an e-mail address (E-Mail Address) and password (Password) for your My NXZ account.

b) My NZX Account: By providing NZX with your E-Mail Address and Password and clicking that you accept the Terms and Conditions you consent to the creation of your My NZX Account and the recording by NZX of any information you disclose to us subject to the provisions of the Privacy Section.

c) My NZX Information: My NZX is designed to provide you with regular personalized updates about the products and services that NZX provides or related news and information to products that NZX provides. By creating your My NZX Account you consent to NZX e-mailing or otherwise communicating to you products and services information, news, market updates and other information (My NZX Services).

d) Security: You must keep your Password safe and must not disclose it to any other person nor should you keep a written or electronic record of your Password.

e) Reliance on Login and Password; You understand and agree that NZX is entitled to rely on the authenticity of your Login and Password being supplied to access My NZX or any other service provided by us.  When the correct Login and Password is provided we may act on and rely on any instruction given without the need for further enquiry. Any instruction sent by a user using your E-Mail Address and/or Password once received by NZX shall be unconditional, irrevocable and binding on you.

f) Changing your Login or Password: NZX will arrange or provide a facility for you to select a new Login or a new Password if you advise us that your Login or Password is known to another person or there has been unauthorised access to your My NZX Account.

6. Access to and Use of Content on the My NZX Function
Company announcements are freely available on My NZX for investors' private and personal use. A distinction is drawn however where use is for a 'professional' or 'commercial' as opposed to 'private or personal' purpose.  Professional or commercial use of My NZX is prohibited. NZX provides a number of products with additional features to support professional investors and other commercial activities. Further information on these products can be obtained by emailing data@nzx.com.

Professional or commercial use would include use by any person that falls into the following categories:

  • You are seeking to access and use the information other than for private or personal investment purposes.
  • You are seeking to access and use the information in connection with any trade or business.
  • You are engaged in the business of accessing or aggregating information and redistributing or otherwise furnishing that information to third parties.
  • You are a member or participating organisation of an exchange or an approved representative or other employee of such an organisation accessing and using the information in connection with your employment, or any associated person of the foregoing.
  • You are employed by a bank, insurance company, fund or asset manager, a professional services firm (such as but not limited to legal or accounting firms), a market participant, an investment or financial adviser or other organisation to perform functions or services related to trading, investment, professional advice or reporting on financial products and you are accessing and using the information in connection with your employment.
  • You are employed by an organisation whereby users access the Content for non-direct investment purposes and you are accessing and using the information in connection with your employment.


If you are unsure as to whether you come within one of the above categories, please email your query to data@nzx.com.

7. Access Outside New Zealand
The NZX Site can be accessed from other countries around the world and may contain references to NZX products, services and programs that have not been announced in those countries. These references do not imply that NZX intends to announce such products, services or programs in those countries.

NZX makes no representation that materials on the NZX Site are appropriate or available for use in other countries, and accessing them from other countries or territories where their content is illegal is prohibited. Use of the NZX website is done on the understanding and acceptance that you do so on your own initiative and you are solely responsible for compliance with local laws.

8. Disclaimer
The Content on the NZX Site is derived from sources believed to be accurate and current as at the date indicated by reference to the "last reviewed" date, indicated in the respective sections of the NZX Site, However due to the number of sources from which content may be obtained and the inherent hazards of electronic distribution, neither NZX nor Fairfax or their respective directors, officers, agents, employees or contractors:

1. give any representation or warranty as to the reliability, accuracy or completeness of the Content; or

2. warrant that any of the functions contained in any content or your access to the NZX Site, will be uninterrupted or error-free.

Neither NZX, nor Fairfax or their respective subsidiary companies, officers, employees and agents shall, under any circumstances, be liable in any way for any loss; or direct, indirect, consequential, incidental, indirect or special damages, of any kind or any other damages howsoever arising (whether in negligence or otherwise), out of or in connection with the Content and/or any omissions from the Content, including, without limitation, those arising from:

1. any decision made or action taken by you in reliance upon the Content;

2. loss of use, data or profits, whether arising from use of or inability to use any content on the NZX Site (or any web site linked to the NZX Site);

3. contingencies outside the control of NZX or Fairfax or their respective subsidiary companies, officers, employees or agents;

4. negligence of NZX, Fairfax, their respective subsidiary companies, officers, employees or agents in procuring, compiling, interpreting, editing, writing, reporting or delivering any Content; or

5. any other cause,

except where liability cannot be excluded by statute. The Consumer Guarantees Act 1993 does not apply to the supply of services to you by NZX or Fairfax on or through the NZX website, if you are acquiring or holding yourself out as acquiring those services for the purposes of a business. Any clause, or part thereof, declared invalid shall be deemed severable and not affect the validity or enforceability of the remainder.

In the case of goods or services supplied or offered by NZX or Fairfax or their respective subsidiary companies and their officers, employees and agents, liability for breach of any implied warranty or condition which cannot be excluded is limited at the relevant party's option to either:

1. the supply of the goods (or equivalent goods) or services again; or

2. the payment of the cost of having the goods (or equivalent goods) or services supplied again.

9. Indemnity
You must indemnify and hold harmless NZX, Fairfax and their respective subsidiary companies, officers, employees and agents and keep them indemnified, from and against all loss, actions, proceedings, costs, expenses (including legal fees), claims and damages incurred or suffered by any of them arising from:

1. any breach by you of the Terms;

2. reliance by you on any information obtained through the NZX Site;

3. your access and/or use of the NZX Site; and

4. reliance upon, or use of, any Content by any person accessing any content from your computer systems.

10. Not Investment Advice
The content on the NZX Site including news content provided by Fairfax and the content sent to you by the My NZX Service provide general information only. The content of the NZX Site and My NZX Services are not intended as investment advice and must not be relied upon as such. The Investment Advisor Disclosure rules in Part 4 of the Securities Markets Act 1988 do not apply to NZX or Fairfax. You should obtain professional investment advice tailored to your specific circumstances and needs prior to making any investment decisions.

Neither NZX, Fairfax, their respective subsidiary companies nor any of their officers, employees and agents or licensors:

1. has passed judgement on the merit of any of the securities or financial products referred to on the NZX Site or any linked web site;

2. endorses or sponsors, or has endorsed or sponsored, any securities or financial products referred to on the NZX Site or any linked web site;

3. makes or has made any recommendation regarding any securities or financial products made available by any of the companies identified on or linked to the NZX Site; or

4. makes or has made any recommendation regarding the advisability of investing in securities or other financial products generally for any particular individual.

The NZX Site is not, and must not be, construed as an offer of securities or other financial products and is not an invitation to you to take up securities or other financial products.

11. Advertising and Links to Other Web Sites
The NZX Site may contain links to third party web sites. These linked web sites are not under the control of NZX, and NZX is not responsible for the contents of any linked web site or any hyperlink contained in a linked web site. NZX has in no way been involved with developing or reviewing the content on linked web sites. Fairfax is responsible only for links to its own websites and not for those of any other person. Hyperlinks are provided to you as convenience only, and the inclusion of any link does not imply any endorsement of the linked web site by NZX, Fairfax or their respective employees nor does it imply any responsibility for the content or uses of such linked web sites. NZX and Fairfax provides no guarantees, representations or warranties as to the nature, content and reliability and shall have no liability for any electronic content delivered by a third party, including and without limitation to, the accuracy or reliability of any information, data, opinions, advice or statements made on those linked web sites or the timeliness of any electronic content. You link to any such linked web site entirely at your own risk.

Where the NZX Site contains third party advertisements, including banner advertising, third party logos and information, materials and documents relating to or provided by third parties (Third Party Material), the Third Party Material may contain embedded hyperlinks to web sites operated by third parties or their licensees or contractors. Neither NZX nor Fairfax or their respective employees recommend or endorse the products or services of those third parties. In some instances, the Third Party Material will contain representations or offers by the third party which you can accept by linking to the third party's web site and executing the relevant transaction. Such offers are not made by NZX, Fairfax or their respective employees, and the third party is solely responsible to you for the delivery of any goods or services you purchase on the third party web site.

Caching and unauthorised hypertext links to the NZX Site are prohibited as is the framing of any Content available through the NZX Site without NZX's prior written consent. NZX reserves the right to disable any unauthorised links or frames and disclaims any responsibility for the content available on any other web site reached by links to or from the NZX Site

September 2008