Ann: GENERAL: NZX: NZX Half Year 2014 Shareholder and Regulation metrics

• Release Date: 28/07/14 08:48
• Summary: GENERAL: NZX: NZX Half Year 2014 Shareholder and Regulation metrics
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					NZX
28/07/2014 08:48
GENERAL

REL: 0848 HRS NZX Limited

GENERAL: NZX: NZX Half Year 2014 Shareholder and Regulation metrics

NZX's half year 2014 Shareholder Metrics continue to show positive growth in
New Zealand's capital markets.

This includes four listings during the first six months of the year: Genesis
Energy, Inturei Education Group, Serko and Gentrack. These were followed by
the listings of IkeGPS and Scales Corporation, which both listed last week.
Metro Performance Glass and Vista Group International are scheduled to list
in July and August respectively.

Total new capital of $3.52 billion was listed during the half year, slightly
down on the same period last year, which included the listing of Mighty River
Power.

Trading volumes remained strong, up 21.9% on the prior comparable period.
While value traded in June was up 8.8%, total value traded in the half year
of $17.6 billion was down on the prior period.

NZX's Dairy Derivatives continues to demonstrate impressive growth, with the
month of June the biggest trading month since the market launched in late
2010, with 10,346 lots traded. A total of 32,389 lots were traded in the
first half of the year, up 301.6% compared to the same period last year.

NZX's Dairy Futures were named a finalist this month in the Futures & Options
World (FOW) Awards for Asia 2014, for Best New Contract. The awards celebrate
the pioneers of derivatives trading in APAC and the Middle East across
brokerages, exchanges and technology providers. The winners will be announced
in September.

At NZX's Australian business Clear Grain Exchange, despite an early end to
the 2013/14 grain season, tonnes traded on the exchange were up slightly on
the prior comparable period, with 317,223 tonnes traded.

Agri Information metrics demonstrated that the sector has fully recovered
from the severe drought conditions that impacted 1H 2013. Advertising pages
were up 10.5% on the previous comparable period, and general agri
subscriptions were up 5.8% to 10,351.

NZX's funds management business saw positive movement in both funds under
management and units on issue, up 13.6% and 6.1% respectively.

 NZX Regulation metrics & general commentary

NZX released its second quarter 2014 regulation metrics today. These show NZX
Regulation commenced 32 investigations during the quarter in relation to
Issuers, in addition to the eight investigations that were ongoing at the
beginning of the quarter. There were 10 investigations that remained ongoing
at the end of the quarter. There were 21 investigations in relation to
participants commenced this quarter.

Other progress during the period:

- In June, NZX welcomed the Financial Markets Authority's (FMA) third annual
General Obligations Review, which concluded that during the 2013 review
period NZX complied with all of its statutory obligations to ensure that each
of our registered markets and the derivatives market were fair, orderly and
transparent.

- Also in June, NZX announced the appointment of Joost van Amelsfort as NZX's
Head of Market Supervision, effective 4 August 2014. The creation of the role
is a further step to strengthen NZX's regulatory role. It reflects a split of
the current Head of Regulation role in two, to separate regulatory decision
making from policy development.

- NZX's annual participant inspection programme is on-track. The 2014
programme commenced with a review of NZX's risk profiling process, which uses
recognised risk management techniques to determine an overall risk rating for
each participant.  NZX liaises with FMA in relation to on-site inspections to
coordinate visits and where practicable, to reduce duplication.

- The Financial Markets Conduct Act (FMCA) comes into effect in stages this
year, following a comprehensive programme of work focussed on improving the
regulation of New Zealand's financial markets. NZX is considering the
amendments required to the various rule sets as a result of the legislative
changes.

- One of the major benefits of the FMCA for listed issuers came into effect
on 1 April. This provides the ability for listed issuers to raise additional
capital via the same class issuance provision. This will reduce the cost for
listed companies raising capital by a further issue in a listed class of debt
or equity. This provision has been utilised by a number of issuers during the
period.

- In June, following public consultation, NZX amended the NZ Markets
Disciplinary Tribunal Rules to change the structure and membership of the
Appeal Panel; and to make other minor amendments relating to the terms of
appointment of Members; the award of costs; discretion to extend timeframe of
determination; and penalties.

- This month, NZX welcomed the announcement by the Minister of Commerce, the
Hon Craig Foss, that he would grant NZX an exemption that will allow NZX to
establish a new market with an alternative disclosure regime, which differs
from the traditional continuous disclosure requirements of the NZX Main
Board. This approval is a significant milestone in NZX's progress towards the
launch of its new market designed for small and mid-sized businesses.

For more information please contact:
Kate McLaughlin
Corporate Communications
M: 027 533 4529
E: [email protected]
End CA:00253150 For:NZX    Type:GENERAL    Time:2014-07-28 08:48:52