NZX Revenue & Shareholder Metrics | NZ RegCo Metrics

NZX Limited - Half Year Shareholder Metrics
HY 2021
These shareholder metrics represent the key operations of NZX's business.
Core Markets
NZX Listed Issuers30.06.21Change YoYCapital RaisingHY 2021Change YoY
Total equity securities1343.9%Total capital raisings$7,323 m-10.60%
Total fund securities486.7%
Total retail debt securities1404.5%New Capital Listed
Total wholesale debt securities814.3%Total capital listed by all issuers$3,430 m46.9%
Total other securities40.0%
Total listed securities3344.7%Equity listings$875 m2400.2%
Fund listings-n/a
Retail debt listings$2,555 m70.3%
Total NZX Main Board equity issuers1323.9%Wholesale debt listings--100%
Total NZX Main Board fund issuers486.7%
Total NZX Debt Market retail debt issuers514.1%Secondary Capital Raisings
Total NZX Debt Market wholesale debt issuers20.0%Total capital raised by all issuers$3,893 m-33.9%
Total other issuers40.0%
Total unique issuers2075.1%Total equity raised - NZ issuers$1,016 m-67.7%
Total equity raised - dual or foreign issuer$1 m18.5%
Total funds raised - NZ issuers$1,115 m77.8%
Market Capitalisation30.06.21Change YoY% of GDP
Total funds raised - dual or foreign issuer$328 m-8.4%
Total market capitalisation$227,483 m13.6%69.9%Total retail debt raised$766 m-36.6%
Total wholesale debt raised$667 m19.8%
All equity$179,046 m13.0%55.0%
All funds$7,052 m41.3%2.2%
All other$31 m261.2%0.0%Total number of capital raising events1,89829.1%
Total NZX Main Board$186,129 m13.8%57.2%Equity issuers - capital raised < $10m18217.4%
Equity issuers - capital raised ≥ $10m < $100m10-52.4%
Retail debt$32,662 m2.0%10.0%Equity issuers - capital raised ≥ $100m2-75.0%
Green bonds$3,225 m258.3%1.0%Fund issuers - capital raised1,68733.4%
Wholesale debt$5,467 m45.4%1.7%Retail debt issuers - capital raised16-20.0%
Total NZX Debt Market$41,354 m12.7%12.7%Wholesale debt issuers - capital raised1-
Cash MarketHY 2021Change YoYClearing House / DepositoryHY 2021Change YoY
Total value traded$27,147 m-2.8%Gross value of cleared trades$27,189 m-2.8%
Daily average value traded$223 m-2.0%Collateral held at period end$77 m0.6%
On-market value traded$17,324 m-0.6%Depository transactions45,90210.9%
% of value on-market63.8%2.3%Assets under custody in depository at period end$5,375 m44.3%
Total trades8,043,06936.5%
Daily average trades65,92736.5%
DerivativesHY 2021Change YoY
Futures - total lots traded127,656-24.2%
Total Equity TransactionsOptions - total lots traded12,294-67.1%
Total trades8,020,46036.5%Total derivatives lots traded139,950-31.9%
Value traded $26,213 m-3.1%Open interest as at period end60,622-21.8%
% of value on-market65.1%4.3%Notional value traded ($USD)$886 m8.3%
Options to futures ratio9.6%-56.6%
Total Debt TransactionsBlock trade %0.6%n/a
Total trades22,60915.8%
Value traded $934 m7.5%
Energy Contracts30.06.21Change YoY
Operating / Technology contracts185.9%
- contracts ≥ $500k p.a.525.0%
- contracts < $500k p.a.130.0%

NZX Indices Performance30.06.21Change YoYWholesale Data30.06.21Change YoY
S&P/NZX50 Index12,65510.5%Terminal numbers - professional6,6026.2%
S&P/NZX 50 Index (Capital)5,2428.0%Terminal numbers - retail1,978-26.5%
S&P/NZX 50 Portfolio Index8,06423.0%Licences - value ≥ $20k p.a.5630.2%
S&P/NZX Primary Sector Index13,787-15.5%Licences - value < $20k p.a.81-
S&P/NZX NZ Fixed Interest Composite Index125-2.2%
S&P/NZX A-Grade Bond Index5,863-1.2%
Direct Data Products30.06.21Change YoYDairy Data Subscriptions30.06.21Change YoY
Proprietary security subscription products311-1.0%Dairy data subscriptions464-0.6%
- products ≥ $3,000 p.a.1101.9% - products ≥ $1,500 p.a. 1093.8%
- products < $3,000 p.a.201-2.4% - products < $1,500 p.a. 355-1.9%
Smartshares
30.06.21Change YoY
Total external funds under management$5,692 m44.3%
Scheme FUM30.06.21Change YoY
SuperLife Kiwisaver$1,320 m31.1%
SuperLife Workplace Savings$1,446 m19.0%
Smartshares Exchange Traded Funds - External$2,160 m53.4%
Smartshares Exchange Traded Funds - Total (external and internal)$5,016 m41.3%
Other Metrics30.06.21Change YoY
Units on issue1,653 m21.7%
Value of stock lent over month$319 m-10.2%
Wealth Technologies
30.06.21Change YoY
Funds under administration$7,734 m151.1%
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).
With 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 rights, warrants and options quoted on the NZX Main Board (NZSX).

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 and classification restatements.

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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NZ RegCo – Quarterly Regulation Metrics
Q2 2021
These Regulation Metrics represent the key features of NZ RegCo’s activities in regulating NZX’s
markets. The metrics focus on key activities so as to provide transparency and a means of comparison
across periods.

ISSUERS – KEY METRICS

Q2 2020 Q2 2021
Total announcements released
4474 4803
Trading halts at request of Issuer or NZ RegCo¹
20 12
Documents approved and waivers² granted to Issuers
29 14
Complaints received concerning Issuers
2 0
Price enquiries concerning Issuers
4 3
Investigations³ begun in relation to Issuers
13 9
Investigations ongoing at the end of the quarter/period in relation to Issuers
6 5

PARTICIPANTS – KEY METRICS

Waivers², Exemptions and Rulings granted to Participants
0
14
Inspections commenced
8
4
Complaints received concerning Participants
0
2
Investigations³ begun in relation to Participants
36
24
Investigations ongoing at the end of the quarter/period in relation to
Participants
27
17


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.

NZX Limited – Quarterly Policy Update
Q2 2021
This section outlines the key NZX rules and policy activity over the preceding quarter.
NZX RULES AND POLICY
Quotation of Debt Instruments Q2 2021
NZX is currently consulting on a suite of proposals relating to the treatment of debt instruments that are
designed to provide greater clarity to the market and standardise the treatment of certain types of
instrument. These proposals have been designed in the context of consultation that has been
undertaken by the Reserve Bank of New Zealand and the New Zealand Financial Markets Association.
A consultation paper detailing NZX’s proposals is available here.
We invite interested parties to provide their views on the proposed amendments by emailing a written
submission to policy@nzx.com
. Please note that the final date for submissions is Friday, 16 July 2021.
Listing Rules ‘Hygiene Review’ Q2 2021
NZX has commenced its consultation on the ‘Hygiene Review’ of the Listing Rules. The proposed
amendments have been designed to improve the operation and clarity of the Listing Rules and do not
contain any substantive amendments or material policy changes. NZX is also consulting on the
introduction of a new Practice Note on the Offer of Warrants and hygiene amendments to guidance as
a result of the proposed amendments to the Listing Rules. Exposure drafts of the NZX Listing Rules
and guidance being consulted on are available on our website here
.
We invite interested parties to provide their views on the proposed amendments by emailing a written
submission to policy@nzx.com
. Please note that the final date for submissions is Friday, 30 July 2021.
Mid-Point Order Book Final Consultation
In October 2019, NZX consulted on the proposed introduction and features of the Mid-Point Order Book
(Mid-Point OB). The Mid-Point OB has been designed as an anonymous, ‘unlit’ order book on which
trades will execute at the mid-point of the current spread of the buy and sell orders on the Central Limit
OB.
As a result of the October 2019 consultation, NZX received submissions which generally supported the
introduction of the Mid-Point OB although some submitters expressed disparate views in respect to
some of the proposed settings. NZX has since conducted additional engagement which has involved
over 30 individual meetings with various market stakeholders. As a result of the additional engagement,
NZX is offering a final opportunity for interested parties to submit additional substantive matters for
NZX’s consideration as outlined in section 5 of this Final Consultation Paper which can be found here
.
We invite interested parties who wish to submit on additional substantive matters on the proposed Mid-
Point OB to email a written submission to policy@nzx.com
or contact us for a verbal submission.
Please note that the final date for submissions is Friday, 3 September 2021.
Direct Market Access Guidance Note
In Q2 of 2021, NZX Policy consulted on proposed introduction of a new Direct Market Access Guidance
Note (Guidance Note) to provide guidance and best practice information for Participants trading on
NZX’s cash and derivatives markets via Direct Market Access. The guidance also outlines NZX’s
expectations in relation to the setting and maintenance of DMA filters, considerations in respect of
algorithmic trading conducted via DMA, and NZX’s compliance monitoring and oversight expectations.
NZX has concluded its consultation period for the Guidance Note and would like to thank those who
submitted on the proposed Guidance Note. We are currently considering the submissions received,
and expect to release a revised guidance in this area in Q3.

Corporate Governance Code 2021 Review
NZX is on track towards commencing a review of NZX’s Corporate Governance Code in H2 of 2021. As
issuers have completed 2 full cycles of reporting under the Code, NZX considers that it is timely for
NZX to undertake a targeted review of certain aspects of the Corporate Governance Code.
While the scope of the review is currently being finalised, NZX expects the review to focus on providing
clarity arounds NZX’s expectations in respect of: ‘comply or explain’ disclosure; independent director
requirements under recommendation 2.8; director remuneration practices under recommendation 5.1;
and shareholder participation in capital raising under recommendation 8.4. NZX will also consider
developments in ESG practices and trends, with a view to further developing the commentary on non-
financial reporting.
If you have views of the matters that NZX should consider as part of this review please contact
policy@nzx.com
.