New Zealand's Exchange (), known commonly as the NZX, is the national

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...

for

New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...

and a publicly owned company. NZX is the parent company of Smartshares, and Wealth Technologies. , the NZX had a total of 179 listed securities with a combined market value of 184.62billion.

History

NZX established itself as a number of regional stock exchanges during the

gold rush A gold rush or gold fever is a discovery of gold—sometimes accompanied by other precious metals and rare-earth minerals—that brings an onrush of miners seeking their fortune. Major gold rushes took place in the 19th century in Australia, ...

of the 1860s. The first brokers' association was started in

Dunedin Dunedin ( ; ) is the second-most populous city in the South Island of New Zealand (after Christchurch), and the principal city of the Otago region. Its name comes from ("fort of Edin"), the Scottish Gaelic name for Edinburgh, the capital of S ...

in 1867, then in

Otago Otago (, ; ) is a regions of New Zealand, region of New Zealand located in the southern half of the South Island and administered by the Otago Regional Council. It has an area of approximately , making it the country's second largest local go ...

in 1868,

Auckland Auckland ( ; ) is a large metropolitan city in the North Island of New Zealand. It has an urban population of about It is located in the greater Auckland Region, the area governed by Auckland Council, which includes outlying rural areas and ...

in 1872,

Wellington Wellington is the capital city of New Zealand. It is located at the south-western tip of the North Island, between Cook Strait and the Remutaka Range. Wellington is the third-largest city in New Zealand (second largest in the North Island ...

in 1882. The Dunedin Brokers’ Association became a stock exchange in 1893, then

Christchurch Christchurch (; ) is the largest city in the South Island and the List of cities in New Zealand, second-largest city by urban area population in New Zealand. Christchurch has an urban population of , and a metropolitan population of over hal ...

gained an exchange in 1900. Auckland, Christchurch, Dunedin,

Thames The River Thames ( ), known alternatively in parts as the River Isis, is a river that flows through southern England including London. At , it is the longest river entirely in England and the second-longest in the United Kingdom, after th ...

and Wellington formed the Stock Association of New Zealand in 1915, joined by

Taranaki Taranaki is a regions of New Zealand, region in the west of New Zealand's North Island. It is named after its main geographical feature, the stratovolcano Mount Taranaki, Taranaki Maunga, formerly known as Mount Egmont. The main centre is the ...

in 1916,

Invercargill Invercargill ( , ) is the southernmost and westernmost list of cities in New Zealand, city in New Zealand, and one of the Southernmost settlements, southernmost cities in the world. It is the commercial centre of the Southland Region, Southlan ...

in 1920 and Gisborne in 1922. The Stock Association of New Zealand set up a sub-committee to investigate setting up a national stock exchange. In 1983 the regional exchanges were amalgamated to form a national stock exchange, the New Zealand Stock Exchange (NZSE). On 24 June 1991, NZSE implemented a computerised trading system, replacing the

open outcry Open outcry is a method of communication between professionals on a stock exchange or futures exchange, typically on a trading floor. It involves shouting and the use of Hand signaling (stock market), hand signals to transfer information pri ...

trading floors. This computerised system was replaced with the FASTER trading and settlement system in the late 1990s. NZX Clearing was launched in 2010 to take over clearing and settlement operations. On 16 October 2002 the member firms of the New Zealand Stock Exchange voted in favour of

demutualisation Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, me ...

, and on 31 December 2002, NZSE became a

limited liability company A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of ...

. On 30 May 2003, the New Zealand Stock Exchange Limited formally changed its name to the New Zealand Exchange Limited, trading as NZX, and on 3 June 2003 listed its own securities on its main equity market. Mark Weldon was chief executive officer from 2002 to May 2012. Tim Bennett was CEO from May 2012 to 31 December 2016. NZX's Head of Markets, Mark Peterson, became interim CEO in January 2017, and permanent CEO from April 2017. The NZX Centre building was originally constructed in 1907 for the C&A Odlin Timber Company, and is one of few surviving

Edwardian In the United Kingdom, the Edwardian era was a period in the early 20th century that spanned the reign of King Edward VII from 1901 to 1910. It is commonly extended to the start of the First World War in 1914, during the early reign of King Ge ...

industrial buildings in Wellington. The New Zealand Exchange was subject to online

distributed denial-of-service In computing, a denial-of-service attack (DoS attack) is a cyberattack in which the perpetrator seeks to make a machine or network resource unavailable to its intended users by temporarily or indefinitely disrupting services of a host conne ...

attacks that disrupted trading for five days commencing on 25 August 2020. A group of "DDOS extortionists" demanded an unspecified ransom be paid in

Bitcoin Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under ...

or they would continue the attacks. The New Zealand Exchange ruled out paying the ransom and sought assistance from internet service provider

Spark New Zealand Spark New Zealand Limited is a New Zealand telecommunications and digital services company providing fixed-line telephone services, mobile phone services, broadband, and digital technology services (including cloud, security, digital transfor ...

and the country's signals intelligence agency

Government Communications Security Bureau The Government Communications Security Bureau (GCSB) () is the public service, public-service department of New Zealand charged with promoting New Zealand's national security by collecting and analysing information of an intelligence nature. Th ...

Principal activities

The NZX involves itself in a number of activities. It operates and regulates securities and derivative markets and provides trading, post-trading and data services for securities and derivatives, as well as the providing a central securities depository. The NZX is the only registered securities exchange in New Zealand and is also an authorised futures exchange. Its wholly owned subsidiary, the New Zealand Clearing and Depository Corporation, is the operator of a designated settlement system under part 5 of the Reserve Bank of New Zealand Act 1989. NZX provides passive funds management products through the Smartshares family of

exchange-traded funds An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, Bond (finance), bonds, currencies, debts, futures contracts, and ...

(ETFs) and is a provider of superannuation,

KiwiSaver KiwiSaver is a New Zealand savings scheme which has been operating since 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them earlier in certain limited circumstances, for example if ...

and investment products through SuperLife, which it acquired in 2015. The NZX is also the market operator for New Zealand's wholesale electricity market and the Fonterra Shareholders’ Market, under contract from the Electricity Authority and

Fonterra Fonterra Co-operative Group Limited is a New Zealand Multinational corporation, multinational publicly traded dairy cooperative, co-operative owned by New Zealand farmers. The company is responsible for approximately 30% of the world's dairy ex ...

respectively.

Trading hours

The main trading board is typically open from 10 am to 4:45 pm.

NZX as a Company

NZX itself is a publicly traded company listed on NZX. In 2022, the company reported issued the following financial statement:

References

External links