NZX Revenue & Shareholder Metrics – 1Q24

Q1 2024Q1 2023
NZ $000NZ $000
Annual listing fees (net of internal allocation)2,7892,831-1.5%
Primary listing fees‎‎40521984.9%
Secondary issuance fees590814-27.5%
Total Capital Markets Origination revenue3,7843,864-2.1%
Participant services (net of internal allocation)129197-34.5%
Securities trading823993-17.1%
Securities clearing1,5321,612-5.0%
Dairy derivatives687738-6.9%
Contractual revenue2,4992,4412.4%
Consulting & development139458-69.7%
Total Secondary Markets revenue5,8096,439-9.8%
Royalties from terminals2,1052,128-1.1%
Subscriptions and licenses1,3831,3284.1%
Indices291437-33.4%
Dairy data subscriptions15713912.9%
Audit and back-dated revenue960135611.1%
Connectivity715726-1.5%
Total Information Services revenue5,6114,89314.7%
FUM based revenue ¹9,8346,84643.6%
Member based revenue ¹588591-0.5%
Other revenue24620122.4%
Funds Management revenue10,6687,63839.7%
Wealth Technologies revenue1,9261,46131.8%
Regulation revenue
37332714.1%
Listing and participant fee allocation
64447336.2%
Total Regulation revenue1,01780027.1%
Corporate revenue352540.0%
Total Revenue28,85025,12014.8%
Notes
The comparative information has been reclassified, where necessary, to ensure consistency with the current year presentation.
Please read the revenue numbers in conjuction with the shareholder metrics on the following pages, which drive the revenue performance.
NZX Limited - Quarterly Operating Revenue
Q1 2024
Q1 Operating Revenue
Change YoY
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.
¹ Funds revenue is received net of fund costs incurred directly by the Funds. Q1 2023 revenue number has been restated to recognise QuayStreet revenue net of fund costs ($322k).
Q1 2024 FUM based revenue and member based revenue include an incremental impact from the QuayStreet acquisition (which occurred on 23 February 2023) estimated at $1.23m
and $0.023m respectively. FUM based revenue also increased due to synergies unlocked in the ASB SMT transition services migration completed in August 2023.

Q1 2024
#######
NZX Listed Issuers31.03.24Change YoYCapital RaisingQ1 2024Change YoY
Total equity securities126-4.5%Total capital raisings $2,339 m-18.5%
Total fund securities526.1%
Total retail debt securities1480.7%New Capital Listed
Total wholesale debt securities8-11.1%Total capital listed by all issuers$1,160 m7.9%
Total other securities3-
Total listed securities337-0.9%Equity listings--
Fund listings--
Retail debt listings$1,1607.9%
Total NZX Main Board equity issuers125-4.6%Wholesale debt listings--
Total NZX Main Board fund issuers526.1%
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$1,179 m-34.3%
Total other issuers3-
Total unique issuers203-2.4%Total equity raised - NZ issuers$410-61.6%
Total equity raised - dual or foreign issuer$03800.0%
Total funds raised - NZ issuers$441101.8%
Market Capitalisation31.03.24Change YoY% of GDPTotal funds raised - dual or foreign issuer$39-81.5%
Total market capitalisation$223,070 m0.5%54.7%Total retail debt raised$289-3.0%
Total wholesale debt raised--
All equity$157,202 m-1.9%38.5%
All funds$9,769 m26.0%2.4%
All other$6 m542.2%0.0%Total number of secondary capital raising events451 14.2%
Total NZX Main Board$166,977 m-0.6%40.9%Equity issuers - capital raised < $10m43 -2.3%
Equity‎issuers‎-‎capital‎raised‎≥‎$10m‎<‎$100m4 -20.0%
Retail debt$41,424 m3.6%10.2%Equity‎issuers‎-‎capital‎raised‎≥‎$100m1 -50.0%
Green bonds$6,925 m17.7%1.7%Fund issuers - capital raised396 17.2%
Wholesale debt$7,744 m-3.7%1.9%Retail debt issuers - capital raised7 16.7%
Total NZX Debt Market$56,093 m4.1%13.8%Wholesale debt issuers - capital raised- -
Cash MarketQ1 2024Change YoYClearing House / DepositoryQ1 2024Change YoY
Total value traded$7,432 m-17.1%Gross value of cleared trades over period$7,447-17.0%
Auction Value Traded$2,005 m-16.8%Assets under custody in depository at period end$8,360 m28.3%
On-market value traded$4,552 m-20.1%Depository Uplifts25,061 -3.1%
% of value on-market61.2%-3.7%Settlement Lines54,811 -2.1%
Total trades1,816,306-34.5%OTC Trades27,123 30.3%
Daily average value traded$122 m-15.7%
Daily average trades29,776-33.4%
DerivativesQ1 2024Change YoY
Total Equity TransactionsFutures - total lots traded118,259-5.7%
Total trades1,801,292-34.7%Options - total lots traded10,78124.9%
Value traded$6,930 m-17.7%Total derivatives lots traded129,040-3.7%
% of value on-market62.6%-4.9%Open interest at period end141,08660.8%
Average on-market trade size$2,42020.1%Notional value traded ($USD)$786-22.3%
Options to futures ratio9.1%32.4%
Total Debt TransactionsNegotiated Large Trade (NLT) %39.6%-11.4%
Total trades15,01412.2%
Value traded $502 m-7.7%
Cumulative Numbers - YTDEnergy Contracts31.03.24Change YoY
Number of trades1,816,306-34.5%Operating / Technology contracts185.9%
Total value traded$7,432 m-17.1%-‎contracts‎≥‎$500k‎p.a.4-
% of value on-market61.2%-3.7%- contracts < $500k p.a.147.7%
Q1 2024
NZX Limited - Quarterly Shareholder Metrics
These shareholder metrics represent the key operations of NZX's business.
Core Markets

NZX Indices Performance31.03.24Change YoYWholesale Data31.03.24Change YoY
S&P/NZX 50 Index (Gross)12,1051.9%Terminal numbers - professional6,351-5.8%
S&P/NZX 50 Index (Capital)4,606-1.4%Terminal numbers - retail1,2256.9%
S&P/NZX 50 Portfolio Index7,6252.4%Licences‎-‎value‎≥‎$20k‎p.a.7921.5%
S&P/NZX NZ Fixed Interest Composite Index1214.3%Licences - value < $20k p.a.67-17.3%
S&P/NZX A-Grade Bond Index5,8545.5%
Direct Data Products31.03.24Change YoYDairy Data Subscriptions31.03.24Change YoY
Proprietary security subscription products296-3.3%Dairy data subscriptions431-3.4%
-‎products‎≥‎$3,000‎p.a.99-4.8%‎-‎products‎≥‎$1,500‎p.a.‎13725.7%
- products < $3,000 p.a.197-2.5% - products < $1,500 p.a. 294-12.8%
Smartshares31.03.24Change YoY
Total external funds under management$11,700 m13.3%
Scheme FUM31.03.24Change YoY
SuperLife Kiwisaver$2,288 m21.4%
Workplace Savings Master Trusts$3,162 m6.8%
Smartshares Exchange Traded Funds - External$2,757 m17.3%
Smartshares Exchange Traded Funds - Total (external and internal)$8,097 m34.3%
Other MetricsQ1 2024Change YoY
Units on issue2,679 m21.5%
Value of stock lent over quarter$482 m13.2%
Wealth Technologies31.03.24Change YoY
Funds under administration$13,799 m33.4%
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.‎Please‎note‎these‎operational‎statistics‎are‎based‎on‎NZX’s‎internal‎records,‎which‎are‎unaudited.‎
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’s‎annual‎Oversight‎Report,‎Issuer‎and‎Participant‎Updates‎(https://www.nzx.com/regulation/nzregco/publications),‎and‎via‎the‎NZX‎Policy‎website‎landing‎page‎
(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