- What is the New Zealand Stock exchange all about?
- How many companies are listed with the NZX?
- When did the NZX come into existence?
Most economies that trade globally have established a stock exchange. The stock exchange for New Zealand is known as the “New Zealand Stock Exchange (NZX). It is also known as the Te Paohoko o Aotearoa in the Maori language. This can be defined as a marketplace or a stock market where all the trading of equities and funds is done. The NZX consists of the Main Board, NZX Equity derivates, Debt Market, Dairy Market as well as the shareholders’ market for Fonterra.
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What do they do?
The purpose of the stock exchange is to facilitate smooth flow of business transactions. There is buying and selling done in a transparent manner, ensuring that the transaction is available for public viewing. Another major purpose of the stock exchange is to keep users updated about the latest stock prices, which are determined by the market performance of any given NZX-listed stock at that moment.
The information is available real time, and the results are seen to be the most accurate. Furthermore, the stock exchange can serve as the reservoir of information about companies, their past trade achievements, their periodical financial results, announcements made by them, stock dividend distribution notices and general information about what a particular company does.
History of the NZX
Came into existence during the 1870s gold rush, the NZX has grown from strength to strength and developed into a Company that is controlled and owned by the stakeholders. Providing the best information and timely insight to potential investors about whether or not, they are making a good investment decision is one of the primary purposes of the exchange. Besides this, the stock exchange also educates and informs investors about investments, wealth management insurance, savings, research and so on.
In the year 2003, the process to set up the modern-day New Zealand stock exchange began. There was a chief executive as well as board of directors to govern the exchange and it started functioning like a proper Company. The NZX is currently home to over 200 registered Companies, which turn to it for education, business, and the latest information about who’s up to what.
For a New Zealand-based Company, to be listed on the NZX is as much a privilege as it’s a responsibility. The rightful information is necessary to be provided by the Company to ensure the best practices and accurate information reach the investors and the press alike.