New Zealand’s NZX Signs Memorandum of Understanding with Nasdaq
- The two exchanges aim to connect their capital markets.
The New Zealand Exchange (NZX) announced today that it has signed a memorandum of understanding (MoU) with Nasdaq. Together, the two exchanges aim to connect their capital markets, which could increase the exposure of New Zealand-based companies in the United States.
According to the statement, the terms of the memorandum highlight that both exchanges will explore opportunities to promote dual listings, depository receipts, exchange-traded funds, and broader market development initiatives.
The agreement has the possibility to enable NZX to facilitate the growth of New Zealand companies into the United States. However, they would still be able to maintain their connection to their home market.
In addition, the two exchanges are analysing whether it is possible to provide investors in both the US and New Zealand with access to a larger range of investment products. The move comes at a time when capital markets are becoming increasingly global.
James Miller
Source: LinkedIn
Commenting on the agreement, NZX Chair James Miller said: “We are pleased to have extended our relationship with Nasdaq and are excited about the opportunities ahead.
As NZX adopts an increasingly global outlook, today’s announcement is a significant endorsement of our strategy and complements relationships we have in place with the Singapore and Hong Kong exchanges. We look forward to working with Nasdaq to generate opportunities for investors and companies in our respective markets.”
Issuers of Nasdaq can now list on NZX
NZX Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, which is responsible for monitoring and enforcing the rules of the exchange's markets, has also approved Nasdaq as a recognised Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term for equity listings. This means that companies that are listed on Nasdaq’s top tier equity board can now apply for a secondary listing on the New Zealand exchange.
These companies are able to list on the exchange under the foreign exempt issuer regime. This means they need to comply with the primary rules of Nasdaq and don’t have to do the same for almost all of NZX’s listing rules.
The New Zealand Exchange (NZX) announced today that it has signed a memorandum of understanding (MoU) with Nasdaq. Together, the two exchanges aim to connect their capital markets, which could increase the exposure of New Zealand-based companies in the United States.
According to the statement, the terms of the memorandum highlight that both exchanges will explore opportunities to promote dual listings, depository receipts, exchange-traded funds, and broader market development initiatives.
The agreement has the possibility to enable NZX to facilitate the growth of New Zealand companies into the United States. However, they would still be able to maintain their connection to their home market.
In addition, the two exchanges are analysing whether it is possible to provide investors in both the US and New Zealand with access to a larger range of investment products. The move comes at a time when capital markets are becoming increasingly global.
James Miller
Source: LinkedIn
Commenting on the agreement, NZX Chair James Miller said: “We are pleased to have extended our relationship with Nasdaq and are excited about the opportunities ahead.
As NZX adopts an increasingly global outlook, today’s announcement is a significant endorsement of our strategy and complements relationships we have in place with the Singapore and Hong Kong exchanges. We look forward to working with Nasdaq to generate opportunities for investors and companies in our respective markets.”
Issuers of Nasdaq can now list on NZX
NZX Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, which is responsible for monitoring and enforcing the rules of the exchange's markets, has also approved Nasdaq as a recognised Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term for equity listings. This means that companies that are listed on Nasdaq’s top tier equity board can now apply for a secondary listing on the New Zealand exchange.
These companies are able to list on the exchange under the foreign exempt issuer regime. This means they need to comply with the primary rules of Nasdaq and don’t have to do the same for almost all of NZX’s listing rules.