Ann: GENERAL: NZX: NZX gears up for markets growt

• Release Date: 28/06/12 11:30
• Summary: GENERAL: NZX: NZX gears up for markets growth
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NZX
28/06/2012 09:30
GENERAL

REL: 0930 HRS NZX Limited

GENERAL: NZX: NZX gears up for markets growth

NZX gears up for markets growth

28 June 2012 - A new phase for New Zealand markets calls for investment in
customer focus, operational excellence and broadening of the skill base at
NZX.

NZX CEO Tim Bennett said, "I'm excited by the opportunities across the range
of businesses we're in, and by what those opportunities mean for our people,
our customers and our markets.

"The time is right to build on the solid base that has been developed to
ensure we're structured, skilled and resourced to deliver for our markets in
this new phase of development."

The developments include:

Technology, operations and regulatory infrastructure for Fonterra's Trading
Amongst Farmers Market
A broader suite of trading and risk management tools in equities and
commodities markets
Expanding our agricultural information offering as more opportunities arise
for investors in the sector
Extensive work on market quality and growth market initiatives

To support these new developments, a number of changes are being made to
NZX's organisation:

The establishment of two new senior positions: a CFO and a Head of Cash
Markets.  The Cash Markets role will be based primarily in Auckland alongside
NZX's Head of Derivatives.

The formation of a new Markets Services group, responsible for regulated
market operations and customer service.  The group's functions will include
Issuer Services, Market Surveillance, Clearing Operations and Risk functions,
Derivative Operations, Indices and Data Operations.

Head of Markets Services Simon Smith, who comes to the role from a background
in Participant Compliance, Clearing and Finance, said, "In addition to having
a strong customer focus, bringing together these critical functions in one
team will enable us to identify where we need to make further investments in
process improvement."

A more tightly focused Regulation team will be led by current Head of Market
Supervision Robyn Dey. The team will be responsible for the critical roles
of Issuer Regulation, Participant Compliance, Enforcement and Markets Policy
Development.  The role of Corporate Counsel, which has to date been part of
the Market Supervision team, will ultimately report to the CFO.

Robyn Dey said, "We have decided to make the change in reporting lines to
make the distinction between our regulatory and commercial roles more
explicit.  In turn, this will remove any perception of conflict between those
roles."

NZX is also adding to the skill base in the Analytics, Technology,
Derivatives and Energy Markets areas and, in co-operation with Fonterra, will
shortly recruit across a range of markets-related disciplines to service
Trading Amongst Farmers.

"The feedback I've received over the past few weeks highlights the need to
improve our customer relationships, and invest further in our operations and
market regulation.

"Our new structure responds to this feedback and positions us to focus of the
next phase of development of New Zealand's markets," Bennett said.

ENDS
End CA:00224362 For:NZX    Type:GENERAL    Time:2012-06-28 09:30:04