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New Zealand Stock Exchange

 

New Zealand Stock Exchange

New Zealand Stock Exchange

The NZX or New Zealand Exchange is located in Wellington, New Zealand. It is made up of 3 principal markets: the NZAX (New Zealand Alternative Market), the NZSX (New Zealand Stock Market), and the NZDX (New Zealand Debt Market).

The New Zealand Alternative Market or NZAX is the latest equities market which supports strong-growing, start-up companies, and businesses with non-traditional systems, as opposed to the New Zealand Stock Market or NZSX or the prime board is the New Zealand Exchange's premier nonpartisanship market.
The market of New Zealand for debt securities trading is the New Zealand Debt Market or NZDX.

 

It ranges from government and corporate to securities of fixed income. Meanwhile, the NZFOZ handles options and futures contracts. The New Zealand Exchange is responsible for 3 auxiliary companies: Agri-Fax, Link Market Services, Smartshares.

 

The sole securities exchange of New Zealand is the NZX. It is furthermore responsible for shaping and appraising the nation's principal markets. The NZX integrated a trading system which was computerized on June 24, 1991 while in 1999 they upgraded to the FASTER system.

 

It was in the 1870s during the Gold Rush that the NZX was formed. During this time the gold mines in Thames, Auckland, Reefton, Dunedin, functioned as the nation's centers of finance. Even though these interactions were a bit basic, in 1872 the ASA or Auckland Sharebrokers' Association was organized. They started mandatory licensing in 1908 for share brokers and began forming stock exchanges in 1915.
During the following few decades, with the development of the economy of New Zealand, the stock market increased in popularity and size. However in 1957, the Labor government started a Black Budget, which forced several investors to the Stock Market of Australia. Compounding the scare was a dividend tax also and it was only with the reversal of the tax in 1960 did the market completely recover.

 

All the stock exchanges in the regions united to form the NZX in 1974. Just over ten years later, was the crash of the stock market on October 20, 1987, Tuesday. As an answer to the crash, several changes occurred in the exchange such as the forming of a Market Surveillance Panel and a Board of Directors.
The members of the NZX voted in favor of the proposal for demutualization on October 16, 2002, which led to its becoming a company of limited liability. Then NZX became known officially as the New Zealand Exchange Limited in May 2003.
The New Zealand Exchange governs listed markets and company participants with the intention of ensuring that the marketplace remains efficient and transparent. The New Zealand Exchange gives Listing Rules ruling the behavior of member companies, an accreditation program and Participant Rules and for participants of the market, and real-time surveillance and monitoring of market trading.
The New Zealand Exchange is endorsed in its job as front-line governor by the Securities Commission. This is the legal regulator of the financial markets of New Zealand it has no legislative authority to regulate the New Zealand Exchange.
 

 

  

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