New Zealand Exchange

The New Zealand Exchange ( NZX ), also known as New Zealand Stock Exchange, the only stock exchange in New Zealand, with its headquarters in Wellington, the capital of the country. Index of the Stock Exchange is NZX 50 Index.

Although the stock market exists in its current form and privately operated only since December 31, 2002, is their history back to the founding years and the time of the Otago Gold Rush ( 1861-1863 ).

History

Due to the numerous gold discoveries on the Coromandel Peninsula, on the West Coast and especially in Otago, a rapidly growing capital market for investment and speculation developed in New Zealand. Center and metropolis for this market was 1868 City Thames, managed the investment business for the 320 companies operating the Coromandel Peninsula and specializing in quartz and gold mining mining companies. The first stock exchange was established here in New Zealand, where at peak times 18,000 inhabitants place that was, among other short-term more significant than Auckland.

After 1871 received by the Share Brokers Act (Act ), the capital market better regulation, in 1872 the Auckland Exchange was founded, bringing the financial transactions of the North Island were again made ​​primarily in Auckland.

In the following years further exchanges emerged in the country, of which the most significant were in Wellington, Christchurch, Dunedin and Invercargill. Due to the variety arising exchanges - Dunedin alone counted in 1900 with the Dunedin Stock Exchange, the Equitable and the Otago, already three exchanges - also grew the competition and, consequently, the pressure for concentration and mergers.

1915, the Stock Exchange Association of New Zealand was founded in banded together the four stock exchanges mentioned above. The stock market in Auckland was not among them.

The Share Broker Act Amendment of 1981 finally the foundation law was created to unite all exchanges resulting regionally the country under the umbrella of a single national market. This happened two years later with the founding of the New Zealand Stock Exchange ( 1983).

As part of the privatization campaign by the New Zealand government in the 1990s was ultimately argued for the New Zealand Stock Exchange to privatize and convert to a shareholder system. After the parliamentary hurdles were taken in October 2002, the members of the New Zealand Stock Exchange were in favor of privatization, the stock market was eventually taken over by the New Zealand Exchange Limited in May 2003.

Today

The New Zealand Stock Exchange has its headquarters still in Wellington and offers with its 203 listed companies (2009) in three main products:

  • New Zealand Alternative Market ( NZAX ), an alternative market for fast growing companies
  • New Zealand Debt Market ( NZDX ) market for the Notes.
  • New Zealand Stock Market ( NZSX ), the primary equity market,

Swell

All sources of information and links in English

  • David Grant, Bulls, Bears and Elephants - A history of the New Zealand Stock Exchange, Victoria University Press, Wellington, 1997 ISBN 0-86473-308-9.
  • Frank Newman, Phil Briggs, Making Money on the New Zealand Sharemarket, Pursuit Publishing ( NZ) Ltd. , Auckland, Revised Edition 2000. ISBN 0-9597904-6-2
  • Bateman New Zealand Encyclopedia, David Bateman Ltd. , Auckland, 5th Edition, 2000. ISBN 0-908610-21-1
  • The New Zealand Stock Exchange: demutualization, merger and other issues, NZ Parliamentary Library, Background 2001/5, 6 April 2001.
  • New Zealand Stock Exchange ( NZX ) - ADVFN PLC, London (found on 11 January 2009)
Types of business entity Chief Executive Officer Thames, New Zealand
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