NZX Regulation suspends Tiger Brokers (NZ) Limited

Memorandum To: Market Participants From: NZX Regulation Date: 1 July 2020 Subject: NZX Regulation suspends Tiger Brokers (NZ) Limited Message: NZX Regulation (NZXR) announces that it has exercised its powers under NZX Participant Rule (Rule) 21.10, to suspend the accreditation of Tiger Brokers (NZ) Limited (Tiger Brokers) as an NZX Advising Participant. The suspension takes effect from 1 July 2020 until further notice. Rule 5.11.1 requires that Tiger Brokers, as an NZX Advising Participant, have in place a trading agreement with a Trading Participant, through which Tiger Brokers is able to execute on-market client orders in securities quoted on the NZX Main Board and Debt Market. Since 1 April 2020, Tiger Brokers has not had in place a trading agreement as required by the Rules and has been unable to execute client orders on NZX's markets. NZXR considers the ability to execute orders on NZX's markets to be a fundamental component of an NZX Advising Participant's accreditation, in support of its primary business as an accredited NZX firm. For the period of its suspension, Tiger Brokers may not hold itself out as a market participant accredited under the Rules. NZXR notes that Tiger Brokers will remain subject to all of its obligations under the Rules during the period of suspension, including in relation to its capital adequacy and client asset obligations. Please contact NZX Regulation at compliance@nzx.com with any queries. ENDS End CA:00355558 For:NZXR Type:GENERAL Time:2020-07-01 09:27:45