The New Zealand exchange reported an increase in net gain of 10 percent for its foreign exchange sector in H1 2018.
The New Zealand Stock Exchange (NZX) has published its first-half results for 2018 and the interim report for the six months ended June 30, 2018, on Wednesday. During the first half of this year, the exchange experienced an increase in revenues year-on-year, but operating earnings were down.
For the first half of 2018, the total operating earnings were $9.11 million (NZ$13.9 million). This is around four percent less than the same period in 2017, which reported total operating earnings of $9.51 million (NZ$14.5 million). Net profit after tax was $2.88 million (NZ$4.4 million). This is down 75 percent from the same period last year, which saw a figure of $5.18 million (NZ$7.9 million).
For continuing operations, revenue was $21.9 million (NZ$33.4 million). This is up by two percent2% year-on-year and was driven by strong growth of trading and clearing fees as well as funds management revenues.
Operating expenses, on the other hand, increased by 7.3 percent. This was because of investments in marketing, cybersecurity, the dairy derivatives market, one-off staff-related costs and fund expenditure.
Looking at NZX’s Forex business, the exchange reported a net gain of $21,633 (NZ$33,000). This is an increase of 10 percent from the first half of 2017, which reported a net gain of $19,666 (NZ$30,000).
NZX is refocusing to create a leaner and more focused exchange
Since the beginning of this year, NZX has been selling off its non-core businesses. This is to create a leaner and more focused securities exchange. The slimming-down follows a commitment made to its shareholders that it will focus on the operation of New Zealand’s equity, debt, funds, and derivatives markets.
As a result, so far this year it has sold Farmers Weekly, the red meat and forestry components of AgriHQ, Australian Crop Forecasters and Profarmer Australia. Furthermore, the exchange is also trying to develop its secondary market and drive Liquidity growth.
Commenting on the results, the CEO of NZX, Mark Peterson, said: “six months into the delivery of our five-year strategy we have advanced the business materially."
“We have divested our non-core businesses, improved the exchange’s customer service and business efficiency, increased liquidity in the secondary market, and progressed plans to simplify the New Zealand market’s structure and rule set.
“Today’s half year financial result reflects the delivery we have made against our strategy outlined last November. We are pleased with progress being made across the key strategic areas fundamental to our future growth, and remain on track to deliver within the earnings guidance range provided in February 2018.”
The New Zealand Stock Exchange (NZX) has published its first-half results for 2018 and the interim report for the six months ended June 30, 2018, on Wednesday. During the first half of this year, the exchange experienced an increase in revenues year-on-year, but operating earnings were down.
For the first half of 2018, the total operating earnings were $9.11 million (NZ$13.9 million). This is around four percent less than the same period in 2017, which reported total operating earnings of $9.51 million (NZ$14.5 million). Net profit after tax was $2.88 million (NZ$4.4 million). This is down 75 percent from the same period last year, which saw a figure of $5.18 million (NZ$7.9 million).
For continuing operations, revenue was $21.9 million (NZ$33.4 million). This is up by two percent2% year-on-year and was driven by strong growth of trading and clearing fees as well as funds management revenues.
Operating expenses, on the other hand, increased by 7.3 percent. This was because of investments in marketing, cybersecurity, the dairy derivatives market, one-off staff-related costs and fund expenditure.
Looking at NZX’s Forex business, the exchange reported a net gain of $21,633 (NZ$33,000). This is an increase of 10 percent from the first half of 2017, which reported a net gain of $19,666 (NZ$30,000).
NZX is refocusing to create a leaner and more focused exchange
Since the beginning of this year, NZX has been selling off its non-core businesses. This is to create a leaner and more focused securities exchange. The slimming-down follows a commitment made to its shareholders that it will focus on the operation of New Zealand’s equity, debt, funds, and derivatives markets.
As a result, so far this year it has sold Farmers Weekly, the red meat and forestry components of AgriHQ, Australian Crop Forecasters and Profarmer Australia. Furthermore, the exchange is also trying to develop its secondary market and drive Liquidity growth.
Commenting on the results, the CEO of NZX, Mark Peterson, said: “six months into the delivery of our five-year strategy we have advanced the business materially."
“We have divested our non-core businesses, improved the exchange’s customer service and business efficiency, increased liquidity in the secondary market, and progressed plans to simplify the New Zealand market’s structure and rule set.
“Today’s half year financial result reflects the delivery we have made against our strategy outlined last November. We are pleased with progress being made across the key strategic areas fundamental to our future growth, and remain on track to deliver within the earnings guidance range provided in February 2018.”
Noel Quinn's Surprise Exit Marks End of an Era at HSBC
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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