NZX Q3 2018 Revenues & Shareholder Metrics

NZX Limited - Quarterly Operating Revenue
#REF!Q3 2018
Q3 OPERATING REVENUE
Q3 2018
NZ $000
Q3 2017
NZ $000
Change YoY
Annual listing fees2,5202,649-4.9%
Initial listing fees21617523.4%
Secondary issuance fees550742-25.9%
Other issuer services21714351.7%
Consulting & development revenue1047146.8%
Contractual revenue2,1572,217-2.7%
Total Issuer Relationships revenue5,7635,996-3.9%
Participant services1,0079278.6%
Securities trading1,4321,460-1.9%
Securities clearing1,5151,531-1.0%
Dairy derivatives43828852.1%
Total Secondary Markets revenue4,3924,2064.4%
Royalties from terminal1,5361,625-5.5%
Subscriptions and licenses9679106.3%
Dairy data subscriptions175181-3.3%
Other5461-11.5%
Total Data & Insights revenue2,7322,777-1.6%
Funds Management revenue4,1403,32124.7%
Wealth Technologies revenue242333-27.3%
Revenue from continuing operations17,26916,633
3.8%
Revenue from discontinued operations*5231,864
-71.9%
Total Revenue17,79218,497-3.8%
YTD OPERATING REVENUE
YTD 2018
NZ $000
YTD 2017
NZ $000
Change YoY
Annual listing fees7,6027,644-0.5%
Initial listing fees6506283.5%
Secondary issuance fees1,7091,843-7.3%
Other issuer Services53043621.6%
Consulting & development revenue260829-68.7%
Contractual revenue6,5156,618-1.6%
Total Issuer Relationships revenue17,26517,997-4.1%
Participant services2,9432,8134.6%
Securities trading4,3934,1884.9%
Securities clearing4,6194,2827.9%
Dairy derivatives98385015.6%
Total Secondary Markets revenue12,93812,1336.6%
Royalties from terminal4,8714,8011.5%
Subscriptions and licenses2,7692,833-2.3%
Dairy data subscriptions518523-1.0%
Other1471451.4%
Total Data & Insights revenue8,3058,3020.0%
Funds Management revenue11,4599,91115.6%
Wealth Technologies revenue7251,054-31.2%
Revenue from continuing operations50,69249,397
2.6%
Revenue from discontinued operations*4,3265,662
-23.6%
Total Revenue55,01855,059-0.1%
* Revenue from discontinued operations represents the divested Agri businesses (Farmers Weekly sold 1 July 2018, AgriHQ and Australian Grain Information Unit sold 31
August 2018)

NZX Limited - Monthly Shareholder Metrics
Q3 2018
September 2018Q3 2018
These shareholder metrics represent the key operations of NZX's business.
Markets
NZX Listed Issuers30.09.18Change YoYCapital RaisingQ3 2018Change YoY
Total equity securities141-6.0%New Capital Listed
Total fund securities350.0%IPOs and compliance equity listings--
Total debt securities1257.8%Fund listings--
Total other securities3-25.0%Debt listings$1,215 m8.0%
Total listed securities304-0.3%
Secondary Capital Raisings
Total NZSX equity issuers120-4.8%Total capital raised by all issuers$875 m4.7%
Total NZAX equity issuers15-11.8%
Total NXT equity issuers3-25.0%Total equity raised - NZ issuers$293 m-25.9%
Total NZSX fund issuers350.0%Total equity raised - dual or foreign issuer$40 m-19.0%
Total NZDX issuers4911.4%Total funds raised - NZ issuers *$138 m42.7%
Total other issuers3-40.0%Total funds raised - dual or foreign issuer *$20 m-34.4%
Total unique issuers199-3.4%Total debt raised$384 m45.4%
Market Capitalisation30.09.18Change YoY% of GDP
Number of Capital Raising Events
All equity$138,042 m11.3%47.7%Total number of capital raising events332-8.0%
All funds$3,968 m14.3%1.4%Equity issuers - capital raised < $10m120-24.5%
All other$6 m-18.1%0.0%Equity issuers - capital raised ≥ $10m < $100m7-46.2%
Total equity$142,016 m11.4%49.1%Equity issuers - capital raised ≥ $100m--
Fund issuers - capital raised *1978.8%
Debt$28,139 m-0.1%9.7%Debt issuer events - capital raised80.0%
Green bonds$672 m-0.2%
* Funds include Smartshares ETFs. These figures include
fund raising events that were not previously reported.
Total NZDX$28,811 m2.2%10.0%
Cash MarketQ3 2018Change YoYDerivativesQ3 2018Change YoY
Total value traded$9,139 m-20.3%Futures - total lots traded73,1699.5%
Daily average value traded$141 m-20.3%Options - total lots traded33,030197.0%
On-market value traded$4,879 m11.2%Total derivatives lots traded106,19936.2%
% of value on-market53.4%39.4%
Total trades825,54458.3%Open interest201,33719.9%
Daily average trades12,70158.3%Notional value traded ($USD)$355 m17.1%
Average on-market trade size$8,422-23.5%Options to futures ratio45.1%171.4%
Block trade %3.8%-70.0%
Total Equity Transactions
Total trades817,06859.7%
Derivatives Total Lots Traded 2016 / 2017 / 2018
Value traded $8,736 m-20.0%
% of value on-market51.6%45.0%
Total Debt Transactions
Total trades8,476-14.1%
Value traded $403 m-24.9%
% of value on-market90.5%-2.3%
Cumulative Numbers - YTD
Number of trades2,447,01169.4%
Total value traded$29,457 m-5.9%
% of value on-market53.4%35.0%

NZX Indices Performance30.09.18Change YoYClearing House / DepositoryQ3 2018Change YoY
S&P/NZX50 Index9,35117.9%Gross value of cleared trades over period$9,205 m-20.3%
S&P/NZX 50 Portfolio Index5,81717.9%Collateral held at period end$54 m-5.8%
S&P/NZX Primary Sector Index16,98428.0%Depository transactions over period7,480-0.1%
Assets under custody in depository at 30.09.18$720 m68.7%
S&P/NZX NZ Fixed Interest Composite Index1154.7%Value of stock lent over quarter$850 m-44.5%
S&P/NZX A-Grade Bond Index5,3174.6%
Wholesale Data30.09.18Change YoYDirect Data Products30.09.18Change YoY
Terminal numbers - professional*5,996-2.5%Dairy data subscriptions96426.0%
Terminal numbers - retail*1,3213.4%
Licences - value ≥ $20k pa352.9%Proprietary security subscription products3990.0%
Licences - value < $20k pa668.2%- products ≥ $3,000 p.a144-10.0%
* 3 month average
- products < $3,000 p.a.2556.7%
Energy Contracts30.09.18Change YoY
Operating / Technology contracts16-5.9%
- contracts ≥ $500k p.a.40.0%
- contracts < $500k p.a.12-7.7%
Funds Services
SuperLife30.09.18Change YoY
Funds under management - KiwiSaver$834 m19.6%
Funds under management - other$1,356 m15.0%
Total$2,190 m16.7%
Smartshares30.09.18Change YoY
Funds under management - external$868 m39.0%
Funds under management - SuperLife funds$1,802 m32.0%
Total$2,670 m34.2%
Units on issue987 m15.6%
NZX Wealth Technologies30.09.18Change YoY
Funds under administration$1,129 m-5.3%
Notes
1. All figures are measured at the end of the last trading day of each month unless otherwise stated.
Change refers to the change since the same period last year unless otherwise stated

2. Equity market capitalisation includes all securities quoted on the NZX Main Board (NZSX), NZX Alternative Market (NZAX) and NXT Market

3. Market capitalisation for the NZX Debt Market is the total nominal (face) value of all quoted securities, excluding New Zealand Government stock

4. Please note these operational statistics are based on NZX’s internal records, which are unaudited.
Differences may arise between this data and that disclosed in subsequent audited financial statements.
Differences may also arise between this data and the previously reported data due to rounding.

To enquire about information listed on this sheet, or to find out more about NZX products or services, please email: data@nzx.com

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NZX Limited – Quarterly Regulation Metrics
Q3 2018
These Regulation Metrics represent the key features of NZX’s activities in regulating its Markets. The metrics focus
on key activities so as to provide transparency and a means of comparison across periods
.

ISSUERS – KEY METRICS


Q3 2017 Q3 2018
Total announcements released 4468 4311
Trading halts at request of Issuer or NZXR¹ 13 12
Documents approved and waivers² granted to Issuers 50 62
Complaints received concerning Issuers 4 3
Price enquiries concerning Issuers 1 1
Investigations³ begun in relation to Issuers 26 12
Investigations ongoing at the end of the quarter/period in relation to Issuers 11 4

PARTICIPANTS – KEY METRICS

Waivers², Exemptions and Rulings granted to Participants 2 4
Inspections commenced
8 7
Complaints received concerning Participants 0 0
Investigations³ begun in relation to Participants 17 14
Investigations ongoing at the end of the quarter/period in relation to Participants 6 8

NZX RULES AND POLICY

Information on consultations carried out by NZX during the period can be found here. The Listing Rule review
remains ongoing. Amendments to the secondary market settings under the Participant Rules came into effect on 8
October 2018, further information is available at the link above.
NZX Clearing has announced proposed amendments to the Clearing and Settlement Rules and Procedures to
implement the mutualised default fund relevant to the Clearing Participants who clear trades of quoted derivatives
on the NZX Derivatives Market. Further information about the proposed amendments is available here.

NOTES
The metrics are derived from NZX’s internal records.
1. Trading halts imposed routinely, for example on release of price-sensitive information or in the context of
corporate actions are excluded.
2. Details of waivers granted by NZX are released to the Market, and available on https://nzx.com/ and through i-
Search except where the decisions are confidential.
3. NZX will commence an investigation when it identifies a possible breach of rules.
To enquire about any information on this sheet, please email regulation@nzx.com