Fund managers: What next for NZX?

In the past year the NZX has had one primary equity listing and 20 primary debt listings.  There were eight de-listings on the main board last year and one IPO.

For the third quarter of 2018, the share market operatorhad a 3.8% drop in total revenue year-on-year. Wealth technologies revenue was down 27.3% while fund management revenue was up 24.7%. Revenue from continuing operations was up 3.8%.

Earlier in the month Elevation Capital called for an overhaul at the NZX, wanting it to focus on doing “a few things better”.

Rebecca Thomas, founder of Mint Asset Management, said whether the NZX was sustainable as an independent exchange was the “$100 million question we’ve all been asking for the past five years. How do we ensure that the NZ index survives as a standalone sustainable entity without being forcibly merged with another exchange?”