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Standards and Requirements
Minimum connectivity standards and requirements for accessing NZX trading, market data, and post-trade systems.
These standards apply to all participants, vendors, and service providers connecting to NZX systems, regardless of connection method.
All clients connecting to NZX systems are required to meet minimum connectivity standards to ensure NZX services are delivered in an efficient, secure, and reliable manner.
Contact us: data@nzx.com
Connectivity Principles
NZX has established a set of core connectivity principles covering production access, backup requirements, security, bandwidth, and protocol usage. All clients are expected to meet these principles when connecting to NZX systems.
For full technical specifications and requirements, refer to the NZX Client Connectivity Standards and Requirements document.
→ NZX Client Connectivity Standards and Requirements
Minimum Standards by Application or Service
Service | Protocol | Minimum Bandwidth |
|---|---|---|
Trader Workstation | TCP | 256kbps per user session |
Equities Order Routing | TCP, FIX, OUCH | 2Mbps per session |
Fixed Income Order Routing | TCP, FIX, OUCH | 2Mbps per session |
Derivatives Order Routing | TCP, FIX, OUCH | 2Mbps per session |
Market Data | TCP, ITCH, MDF | 5Mbps per connection |
Clearing and Depository | TCP, ISO15022 | 2Mbps per connection |
End of Day Price Report | TCP, SFTP, HTTPS | 256kbps |
Refer to the full Client Connectivity Standards and Requirements document for primary and backup connectivity options by service.
Minimum Standards by Stakeholder Type
Stakeholder | Minimum Bandwidth |
|---|---|
Trading Participant | 256kbps per front-end / 2Mbps per order routing connection |
Third Party DMA System | 2Mbps per connection |
Clearing Participant | 2Mbps per connection |
Depository Participant | 2Mbps per connection |
Data Vendor - MDF Subscriber | 5Mbps per connection |
Data Vendor - FIX Drop Copy | 10Mbps per connection |
Data Vendor - ITCH Subscriber | 5Mbps per connection |
Registry | 2Mbps per connection |
Directly Connected Vendors
NZX partners with data vendors, ISVs, and back-office system vendors who connect directly to NZX systems. The following requirements apply:
- Service Level Guidelines - agreed operational hours apply to each system. Hours may change as business needs evolve and stakeholders will be notified with sufficient warning.
- Change Management - conformance is required for any new vendors connecting to NZX Trading or Clearing and Depository systems to safeguard the market ecosystem and ensure data integrity.