NZX-SGX Global Dairy Derivatives Partnership

On 8 April, NZX and SGX Group ("SGX") sealed a strategic partnership agreement to unlock and accelerate the distribution and growth potential of NZX’s dairy derivatives market. This follows a Heads of Agreement that was mutually signed in October 2020 to explore the listing of NZX’s Global Dairy Derivatives contracts on SGX’s trading and clearing platform. This partnership will bring together the complementary capabilities of the NZX and SGX to scale up market distribution and liquidity in the global dairy derivatives markets.

As part of the new partnership, NZX intends to delist its suite of dairy derivatives contracts from the NZX Derivatives Market and equivalent contracts will be listed on SGX.

This page outlines details of the strategic partnership including market settings, frequently asked questions, key dates and information on the open interest transfer process to migrate the NZX's contracts to SGX's trading and clearing platforms.

Please find NZX's communication updates at the links below. These updates will be released regularly to keep all stakeholders informed about the partnership

External Communication
Published Date

Newsletter #1


Newsletter #2


Newsletter #3


Newsletter #4


Market Settings

The proposed market settings, contract specifications and trading fees can be found below:

NZX-SGX Market Settings Overview

Frequently Asked Questions (FAQ's)

NZX has developed a Frequently Asked Questions (FAQ) resource about the project. This document will be updated regularly and provide a ‘one-stop-shop’ for all general information about the partnership.

NZX-SGX Partnership FAQ's - 24 November 2021

Project Timeline


22 November

Parallel trading begins. Trading available on NZX & SGX

25 November

NZX's last day of trading

26 November

No trading of dairy contracts on either NZX & SGX for contract migration

26-28 November

Migration of open positions

29 November

Trading on SGX available


Phone Number
Email Address

Derivatives Team

+64 (9) 309 3672