NZX Half Year 2019 Shareholder & Qrtly Regulation Metrics

NZX Limited - Half Year Shareholder Metrics
HY 2019
These shareholder metrics represent the key operations of NZX's business.
Markets
NZX Listed Issuers30.06.19Change YoYCapital RaisingHY 2019Change YoY
Total equity securities132-7.0%Total capital raisings$7,697 m73.5%
Total fund securities4525.0%
Total retail debt securities13410.7%New Capital Listed
Total wholesale debt securities5-Total capital listed by all issuers$4,049 m140.3%
Total other securities5150.0%Equity listings$41 m105.3%
Total listed securities3216.6%Fund listings$7 m-
Retail debt listings$2,531 m52.0%
Total NZX Main Board equity issuers1255.0%Wholesale debt listings$1,470 m-
Total NZAX equity issuers4-75.0%
Total NXT equity issuers1-75.0%Secondary Capital Raisings
Total NZSX fund issuers4525.0%Total capital raised by all issuers$3,648 m32.6%
Total NZDX retail debt issuers504.2%
Total NZDX wholesale debt issuers2-Total equity raised - NZ issuers$1,345 m38.7%
Total other issuers4100.0%Total equity raised - dual or foreign issuer$1,241 m106.3%
Total unique issuers2021.0%Total funds raised - NZ issuers$271 m-53.5%
Total funds raised - dual or foreign issuer$245 m72.1%
Market Capitalisation30.06.19Change YoY% of GDP
Total debt raised$546 m20.4%
Total market capitalisation$185,955 m13.1%62.8%
Total number of capital raising events75715.4%
All equity$149,176 m12.1%50.3%Equity issuers - capital raised < $10m147-2.0%
All funds$4,270 m8.2%1.4%Equity issuers - capital raised ≥ $10m < $100m1362.5%
All other$9 m369.1%0.0%Equity issuers - capital raised ≥ $100m6100.0%
Total NZSX/NZAX/NXT$153,455 m12.0%51.8%Fund issuers - capital raised58019.8%
Debt issuers - capital raised110.0%
Retail debt$30,375 m10.2%10.3%
Green bonds$650 m-0.2%
DerivativesHY 2019Change YoY
Wholesale debt$1,475 m-0.5%Futures - total lots traded154,10129.3%
Total NZDX$32,500 m17.9%11.0%Options - total lots traded33,50919.8%
Total derivatives lots traded187,61027.5%
Cash MarketHY 2019Change YoY
Open interest as at period end66,6109.6%
Total value traded$18,350 m-9.7%Notional value traded ($USD)$734 m20.4%
Daily average value traded$150 m-8.9%Options to futures ratio21.7%-7.3%
On-market value traded$9,449 m-10.2%Block trade %2.0%-71.9%
% of value on-market51.5%-0.6%
Derivatives Total Lots Traded 2017 / 2018 / 2019
Total trades1,866,27115.1%
Daily average trades15,29715.1%
Total Equity Transactions
Total trades1,851,38715.3%
Value traded $17,697 m-9.8%
% of value on-market52.4%1.0%
Total Debt Transactions
Total trades14,884-6.6%
Value traded $653 m-6.6%

NZX Indices Performance30.06.19Change YoYClearing House / DepositoryHY 2019Change YoY
S&P/NZX50 Index10,50117.4%Gross value of cleared trades$18,414 m-10.0%
S&P/NZX 50 Index (Capital)4,57913.4%Collateral held at period end$36 m-14.2%
S&P/NZX 50 Portfolio Index6,52117.5%Depository transactions11,365-15.8%
S&P/NZX Primary Sector Index15,970-5.4%Assets under custody in depository at period end$892 m32.5%
S&P/NZX NZ Fixed Interest Composite Index1217.2%Value of stock lent$2,213 m-10.2%
S&P/NZX A-Grade Bond Index5,6086.8%
Wholesale Data30.06.19Change YoYDirect Data Products30.06.19Change YoY
Terminal numbers - professional*6,2374.4%Dairy data subscriptions946-8.2%
Terminal numbers - retail*1,39213.5%Proprietary security subscription products *314-12.5%
Licences - value ≥ $20k p.a.3914.7%- products ≥ $3,000 p.a. *110-23.1%
Licences - value < $20k p.a.7724.2%- products < $3,000 p.a. *204-5.6%
* 3 month average
* Drop in proprietary security subscription products is due to the sale of the
FundSource business during June 2019 (38 products >$3,000 p.a., 12 products
<$3,000 p.a.) and the consolidation of multi-user licences to reflect the parent
subscription only (less 40 products <$3,000; comparatives have been restated).
Energy Contracts30.06.19Change YoY
Operating / Technology contracts160.0%
- contracts ≥ $500k p.a.40.0%
- contracts < $500k p.a.120.0%
Fund Management
Total external funds under management$3,455 m19.4%
SuperLife30.06.19Change YoY
Funds under management - KiwiSaver$921 m17.4%
Funds under management - other$1,458 m11.2%
Total$2,379 m13.5%
Smartshares30.06.19Change YoY
Funds under management - external$1,076 m34.6%
Funds under management - SuperLife funds$1,911 m11.7%
Total$2,987 m19.0%
Units on issue1,099 m15.4%
Wealth Technologies
Funds under administration$2,109 m86.4%
* Increase in funds under administration due to the on-boarding of NZX Wealth Technologies foundation client in November 2018
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 (NXT);
with a dual-listed or an overseas domiciled Issuer, the market capitalisation represents the amount that is held in New Zealand.

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

4. Funds include exchange traded funds, managed funds, listed investment companies and trusts.

5. "Other" securities include options, warrants and options quoted on the NZX Main Board (NZSX) and NZX Alternative Market (NZAX).

6. 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

---

NZX Limited – Quarterly Regulation Metrics
Q2 2019
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


Q2 2018 Q2 2019
Total announcements released 3867 3997
Trading halts at request of Issuer or NZXR¹ 9 11
Documents approved and waivers² granted to Issuers 45 46
Complaints received concerning Issuers 5 1
Price enquiries concerning Issuers 1 4
Investigations³ begun in relation to Issuers 29 20
Investigations ongoing at the end of the quarter/period in relation to Issuers 9 6

PARTICIPANTS – KEY METRICS

Waivers², Exemptions and Rulings granted to Participants 6 2
Inspections commenced
7 9
Complaints received concerning Participants 0 2
Investigations³ begun in relation to Participants 8 9
Investigations ongoing at the end of the quarter/period in relation to Participants 8 7

NZX RULES AND POLICY

During the quarter, NZX provided the New Zealand Treasury with a submission in response to the Consultation
Paper "Reform of the Overseas Investment Act 2005: Facilitating productive investment that supports New
Zealanders' wellbeing". In our submission we advocated for differential treatment for NZX Issuers. To read the
submission click here.

We also provided the Reserve Bank with a submission in response to its consultation paper ‘Capital Review Paper
4: How much capital is enough?’. Our submission highlighted certain impacts that a change to the nature of the
regulatory capital regime in the banking sector could have on New Zealand's broader capital markets.

NZX also submitted to the Ministry of Business, Innovation and Employment on the consultation paper 'Conduct of
Financial Institutions'. We submitted that the proposed conduct obligations should not apply to financial institutions
such as managed investment schemes (including non-bank KiwiSaver providers) and discretionary management
service provides because there was no clear evidence of poor customer outcomes to warrant the imposition of
additional conduct obligations for those providers who are already subject to significant regulation.

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