NZX Revenue & Shareholder Metrics

9/30/2023
Q3 2023
Q3 2023Q3 2022YTD 2023YTD 2022
NZ $000NZ $000NZ $000NZ $000
Annual listing fees2,8192,7950.8%8,4278,1463.4%
Primary listing fees6556166.3%1,5311,586-3.5%
Secondary issuance fees8361,560-46.4%2,5423,331-23.7%
Total Capital Markets Origination revenue4,3104,971-13.3%12,50013,063-4.3%
Participant services128231-44.6%409670-39.0%
Securities trading882929-5.1%2,8883,228-10.5%
Securities clearing1,6071,671-3.8%4,8435,513-12.2%
Dairy derivatives1,117493126.6%2,6861,329102.1%
Contractual revenue 2,4722,530-2.3%7,3117,352-0.6%
Consulting & development277380-27.1%9141,110-17.7%
Total Secondary Markets revenue6,4836,2344.0%19,05119,202-0.8%
Royalties from terminals2,0682,133-3.0%6,3946,2492.3%
Subscriptions and licenses1,3771,2896.8%4,0773,8047.2%
Dairy data subscriptions152160-5.0%433475-8.8%
Indices3223103.9%1,20082345.8%
Audit and back-dated licenses15549216.3%902285216.5%
Connectivity7026901.7%2,1421,9877.8%
Total Information Services revenue4,7764,6313.1%15,14813,62311.2%
FUM based revenue
1
8,5885,63352.5%24,46615,68056.0%
Member based revenue
1
6375819.6%2,1081,69924.1%
Other revenue29317567.4%92246996.6%
Funds Management revenue9,5186,38949.0%27,49617,84854.1%
Wealth Technologies revenue1,8291,62912.3%4,8564,4798.4%
Regulation revenue9138813.6%2,6852,6790.2%
Corporate revenue181250.0%552896.4%
Total Revenue27,84724,74712.5%81,79170,92215.3%
Operating revenue numbers are based on NZX's internal records, which are unaudited. Differences may arise between this data and that disclosed in the subsequent audited
financial statements.
The comparative information has been reclassified, where necessary, to ensure consistency with the current year presentation.
Please read the revenue numbers in conjunction with the shareholder metrics on the following pages, which drive revenue performance.
1. Funds revenue is received net of fund costs incurred directly by the Funds. Q3 2023 FUM based and member based revenue includes an additional $1,980k relating to the
QuayStreet acquisition from 23 February 2023 onwards ($4,574k for YTD 2023). Additionally, YTD 2023 FUM based revenue and member based revenue include an incremental
impact from the ASB Superannuation Master Trust acquisition (which occurred on 11 February 2022) estimated at $418k and $40k respectively.
NZX Limited - Quarterly Operating Revenue
Q3 2023
Q3 Operating RevenueYTD Operating Revenue
Change YOYChange YOY

Q3 2023
#######
NZX Listed Issuers30.09.23 Change YoYCapital RaisingQ3 2023Change YoY
Total equity securities129 -3.0%Total capital raisings $5,708 m-20.6%
Total fund securities53 8.2%
Total retail debt securities148 1.4%New Capital Listed
Total wholesale debt securities8 -11.1%Total capital listed by all issuers$2,742 m71.4%
Total other securities3 -
Total listed securities341 0.3%Equity listings--
Fund listings--
Retail debt listings$2,742 m71.4%
Total NZX Main Board equity issuers128 -3.0%Wholesale debt listings--
Total NZX Main Board fund issuers53 8.2%
Total NZX Debt Market retail debt issuers48 -4.0%Secondary Capital Raisings
Total NZX Debt Market wholesale debt issuers2 - Total capital raised by all issuers$2,966 m-46.9%
Total other issuers3 -
Total unique issuers207 -1.0%Total equity raised - NZ issuers$438 m-10.0%
Total equity raised - dual or foreign issuer$55 m-98.7%
Total funds raised - NZ issuers$1,280 m360.6%
Market Capitalisation30.09.23Change YoY% of GDPTotal funds raised - dual or foreign issuer$97 m-20.6%
Total market capitalisation$214,493 m-1.9%55.4%Total retail debt raised$1,096 m108.3%
Total wholesale debt raised--
All equity$149,915 m-6.8%38.7%
All funds$8,685 m18.6%2.2%
All other$3 m106.4%- Total number of secondary capital raising events414 -25.0%
Total NZX Main Board$158,603 m-5.7%40.9%Equity issuers - capital raised < $10m80 -13.0%
Equity issuers - capital raised ≥ $10m < $100m7 16.7%
Retail debt$41,594 m12.8%10.7%Equity issuers - capital raised ≥ $100m1 -80.0%
Green bonds$6,550 m17.8%1.7%Fund issuers - capital raised316 -28.0%
Wholesale debt$7,746 m-3.2%2.0%Retail debt issuers - capital raised10 -
Total NZX Debt Market$55,890 m10.8%14.4%Wholesale debt issuers - capital raised- -
Cash MarketQ3 2023Change YoYClearing House / DepositoryQ3 2023Change YoY
Total value traded$8,624 m5.8%Gross value of cleared trades over period$8,646 m5.7%
Auction Value Traded$1,949 m3.9%Assets under custody in depository at period end$7,639 m29.2%
On-market value traded$4,771 m-6.8%Depository Uplifts27,828 6.3%
% of value on-market55.3%-11.9%Settlement Lines61,694 3.7%
Total trades2,095,591-10.2%OTC Trades19,978 1.2%
Daily average value traded$135 m5.8%
Daily average trades32,744-10.2%
DerivativesQ3 2023Change YoY
Total Equity TransactionsFutures - total lots traded160,191 31.7%
Total trades2,076,333-10.4%Options - total lots traded19,366 88.0%
Value traded$7,905 m5.5%Total derivatives lots traded179,557 36.1%
% of value on-market57.4%-12.9%Total derivatives lots traded - YTD439,637 32.9%
Average on-market trade size$2,192
2.6%Open interest at period end128,530 4.9%
Notional value traded ($USD)$917 m1.9%
Total Debt TransactionsOptions to futures ratio12.1%42.7%
Total trades19,25826.8%Negotiated Large Trade (NLT) %*47.69%78.0%
Value traded $719 m8.8%*Following SGX-NZX partnership, block trades are now represented by SGX Negotiated Large Trades
Cumulative Numbers - YTDEnergy Contracts30.09.23 Change YoY
Number of trades7,011,364-25.5%Operating / Technology contracts17-5.6%
Total value traded$26,656 m-8.0%- contracts ≥ $500k p.a.4-20.0%
% of value on-market60.2%-7.4%- contracts < $500k p.a.13-
NZX Limited - Quarterly Shareholder Metrics
Q3 2023
Core Markets
These shareholder metrics represent the key operations of NZX's business.

NZX Indices Performance30.09.23 Change YoYWholesale Data30.09.23 Change YoY
S&P/NZX 50 Index (Gross)11,2962.1%Terminal numbers - professional6,484-5.8%
S&P/NZX 50 Index (Capital)4,360-1.2%Terminal numbers - retail1,184-27.1%
S&P/NZX 50 Portfolio Index7,2040.3%Licences - value ≥ $20k p.a.686.3%
S&P/NZX NZ Fixed Interest Composite Index1130.2%Licences - value < $20k p.a.81-
S&P/NZX A-Grade Bond Index5,5432.5%
Direct Data Products30.09.23 Change YoYDairy Data Subscriptions30.09.23 Change YoY
Proprietary security subscription products304-1.0%Dairy data subscriptions437-1.1%
- products ≥ $3,000 p.a.103-1.9%- products ≥ $1,500 p.a.12215.1%
- products < $3,000 p.a.201-0.5%- products < $1,500 p.a.315-6.3%
Smartshares30.09.23 Change YoY
Total external funds under management$10,439 m33.6%
Scheme FUM30.09.23 Change YoY
SuperLife Kiwisaver$2,003 m16.5%
Workplace Savings Master Trusts$2,924 m3.0%
Smartshares Exchange Traded Funds - External$2,385 m2.0%
Smartshares Exchange Traded Funds - Total (external and internal)$7,065 m27.4%
Other Metrics30.09.23 Change YoY
Units on issue2,577 m23.0%
Value of stock lent over quarter$307 m-48.3%
Wealth Technologies30.09.23 Change YoY
Funds under administration$11,058 m11.0%
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.
7. Regulatory metrics and information relating to NZX rules and policy activity (which was previously set out in a separate NZ RegCo metrics document) can be accessed via NZ RegCo’s
annual Oversight Report, Issuer and Participant Updates (https://www.nzx.com/regulation/nzregco/publications), and via the NZX Policy website landing page
(https://www.nzx.com/regulation/nzx-policy).
To enquire about information listed on this sheet, or to find out more about NZX products or services, please email: insights@nzx.com or data@nzx.com