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{{short description|National stock exchange for New Zealand}}
{{Use New Zealand English|date=August 2020}}
{{Use dmy dates|date=August 2020}}
{{coord|-41.289709|174.779493|display=title}}
{{Infobox exchange
|name                     = New Zealand's Exchange
|logo                     = NZXgroup-logo.svg
|type                     = [[Stock exchange]]
|city                     = [[Wellington]]
|country                  = [[New Zealand]]
|foundation               = {{Start date and age|2002|12|31}}
|key_people               = {{plainlist|
* Mark Peterson (chief executive)
}}
|currency                 = [[New Zealand dollar]]
|listings                 = 182 (2024)
|mcap                     = NZ$164.7 billion (2024)
|indexes                  = [[S&P/NZX 50 Index]]
|homepage                 = {{URL|https://www.nzx.com/|nzx.com}}
}}

'''New Zealand's Exchange''' ({{Langx|mi|Te Paehoko o Aotearoa}}), known commonly as the '''NZX''', is the national [[stock exchange]] for [[New Zealand]] and a publicly owned company.<ref>{{Cite web|title=NZX's Regulatory Model|url=https://www.nzx.com/regulation/nzx-regulation/nzx-regulatory-model|access-date=30 August 2020|website=New Zealand's Exchange}}</ref> NZX is the parent company of Smartshares, and Wealth Technologies.<ref>{{Cite web|title=Who We Are|url=https://www.nzx.com/about-nzx/organization-structure|access-date=30 August 2020|website=New Zealand's Exchange}}</ref>

{{As of|2025|02}}, the NZX had a total of 179 listed securities with a combined market value of {{NZD}}184.62{{nbsp}}billion.<ref>{{cite web|date=15 February 2025|title=NZX listings|url=https://www.nzx.com/markets/NZSX|access-date=15 February 2025|website=New Zealand Exchange}}</ref>

==History==
[[File:New Zealand Stock Exchange 1.jpg|right|thumb|250px|NZX Centre (the taller building), 2007]]
NZX established itself as a number of regional stock exchanges during the [[gold rush]] of the 1860s. The first brokers' association was started in [[Dunedin]] in 1867, then in [[Otago gold rush|Otago]] in 1868, [[Auckland]] in 1872,<ref>{{Cite web|url=http://www.teara.govt.nz/en/stock-market/page-1|title=Story: Stock market Page 1 – First stock exchanges|website=Te Ara – The Encyclopedia of New Zealand}}</ref> [[Wellington]] in 1882. The Dunedin Brokers’ Association became a stock exchange in 1893, then [[Christchurch]] gained an exchange in 1900.<ref>{{Cite web|url=http://www.teara.govt.nz/en/stock-market/page-2|title=Page 2 – Financing the gold-dredging boom}}</ref> Auckland, Christchurch, Dunedin, [[Thames, New Zealand|Thames]] and Wellington formed the Stock Association of New Zealand in 1915, joined by [[Taranaki]] in 1916, [[Invercargill]] in 1920 and [[Gisborne, New Zealand|Gisborne]] in 1922.<ref>{{Cite web|url=http://www.teara.govt.nz/en/stock-market/page-3|title=Page 3 – Quiet consolidation, 1900–1950}}</ref> The Stock Association of New Zealand set up a sub-committee to investigate setting up a national stock exchange.<ref>{{Cite web|url=http://www.teara.govt.nz/en/stock-market/page-4|title=Page 4 – Towards a national exchange, 1950–1984}}</ref> In 1983 the regional exchanges were amalgamated to form a national stock exchange, the New Zealand Stock Exchange (NZSE).

On 24 June 1991, NZSE implemented a computerised trading system, replacing the [[open outcry]] trading floors. This computerised system was replaced with the FASTER trading and [[Settlement (finance)|settlement]] system in the late 1990s.{{citation needed|date=December 2022}} NZX Clearing was launched in 2010 to take over clearing and settlement operations.<ref>{{cite web |url= https://www.nzx.com/services/nzx-clearing/about |title=About NZX Clearing |publisher=NZX |access-date=3 December 2022}}</ref>

On 16 October 2002 the member firms of the New Zealand Stock Exchange voted in favour of [[demutualisation]], and on 31 December 2002, NZSE became a [[Private limited company|limited liability company]]. On 30 May 2003, the New Zealand Stock Exchange Limited formally changed its name to the New Zealand Exchange Limited, trading as NZX, and on 3 June 2003 listed its own securities on its main equity market.

[[Mark Weldon]] was chief executive officer from 2002 to May 2012. Tim Bennett was CEO from May 2012 to 31 December 2016. NZX's Head of Markets, Mark Peterson, became interim CEO in January 2017, and permanent CEO from April 2017.<ref>{{cite web |url= http://www.financemagnates.com/executives/moves/nzx-appoints-mark-peterson-as-its-interim-ceo/ |title=NZX Appoints Mark Peterson as its Interim CEO| publisher=Finance Magnates}}</ref>

The NZX Centre building was originally constructed in 1907 for the [[PlaceMakers#1981–1989|C&A Odlin Timber Company]], and is one of few surviving [[Edwardian architecture|Edwardian]] industrial buildings in Wellington.<ref>{{cite web|title=The Former Odlin Building - NZX Centre|url=http://www.wellingtonwaterfront.co.nz/development/Taranaki_street_wharf/odlin_building/index.htm|url-status=dead|archive-url=https://web.archive.org/web/20120306221332/http://www.wellingtonwaterfront.co.nz/development/taranaki_street_wharf/odlin_building/index.htm|archive-date=2012-03-06|publisher=Wellington Waterfront}}</ref>

The New Zealand Exchange was subject to online [[distributed denial-of-service]] attacks that disrupted trading for five days commencing on 25 August 2020. A group of "DDOS extortionists" demanded an unspecified ransom be paid in [[Bitcoin]] or they would continue the attacks. The New Zealand Exchange ruled out paying the ransom and sought assistance from internet service provider [[Spark New Zealand]] and the country's signals intelligence agency [[Government Communications Security Bureau]].<ref>{{cite news |last1=Choudhury |first1=Saheli |title=New Zealand's stock exchange resumes trading after facing disruption for fourth day in a row |url=https://www.cnbc.com/2020/08/28/new-zealands-exchange-nzx-down-for-fourth-day-after-cyber-attacks.html |access-date=28 August 2020 |work=[[CNBC]] |date=28 August 2020 |archive-url=https://web.archive.org/web/20200828011515/https://www.cnbc.com/2020/08/28/new-zealands-exchange-nzx-down-for-fourth-day-after-cyber-attacks.html |archive-date=28 August 2020|url-status=live}}</ref><ref>{{cite news |title=NZX down for fourth day in a row after cyber attacks |url=https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12360250 |access-date=28 August 2020 |work=[[New Zealand Herald]] |date=28 August 2020 |archive-url=https://web.archive.org/web/20200828065227/https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12360250 |archive-date=28 August 2020|url-status=live}}</ref><ref>{{cite news |last1=Anthony |first1=John |title=MetService website crashes again following DDoS cyberattack |url=https://www.stuff.co.nz/business/industries/122636840/metservice-website-crashes-again-following-ddos-cyberattack |access-date=1 September 2020 |work=[[Stuff (website)|Stuff]] |date=2 September 2020 |archive-url=https://web.archive.org/web/20200901230952/https://www.stuff.co.nz/business/industries/122636840/metservice-anticipates-future-ddos-cyberattacks-in-coming-days |archive-date=1 September 2020|url-status=live}}</ref>

==Principal activities==
The NZX involves itself in a number of activities. It operates and regulates securities and derivative markets and provides trading, post-trading and data services for securities and derivatives, as well as the providing a central securities depository. The NZX is the only registered securities exchange in New Zealand and is also an authorised futures exchange. Its wholly owned subsidiary, the New Zealand Clearing and Depository Corporation, is the operator of a designated settlement system under part 5 of the Reserve Bank of New Zealand Act 1989.

NZX provides passive funds management products through the Smartshares family of [[exchange-traded funds]] (ETFs) and is a provider of superannuation, [[KiwiSaver]] and investment products through SuperLife, which it acquired in 2015.

The NZX is also the market operator for New Zealand's wholesale electricity market and the Fonterra Shareholders’ Market, under contract from the [[Electricity Authority (New Zealand)|Electricity Authority]] and [[Fonterra]] respectively.

== Trading hours ==
The main trading board is typically open from 10 am to 4:45 pm.<ref>{{Cite web|title=NZX Market Holidays & Trading Hours|url=https://www.nzx.com/services/nzx-trading/hours-boards|access-date=30 August 2020|website=New Zealand's Exchange}}</ref>

==NZX as a company==
'''NZX Limited''' is a publicly traded company listed on NZX ({{NZX|NZX}}). In 2024, the company reported issued the following financial statement:

{| class="wikitable" style="margin:0.5em ; font-size:95%"
|+ NZX 2024 Annual Report<ref>{{Cite web |title=NZX, New Zealand's Exchange - Announcements, Nzx Full Year 2024 Results & Annual Report Published |url=https://www.nzx.com/announcements/447147 |access-date=2025-11-02 |website=www.nzx.com}}</ref>

!|Information
!|Figure Reported
|-
|Revenue
|{{up}} {{NZ$|120.7 million|link=yes}}
|-
|EBIT
|{{up}} {{NZ$|37.0 million}}
|-
|Net profit after tax
|{{up}} {{NZ$|25.5 million}}
|-
|Total assets
|{{up}} {{NZ$|282.4 million}}
|-
|Net assets (equity)
|{{up}} {{NZ$|127.0 million}}
|-
|Employees
|338
|}

== See also ==
* [[NZX 50 Index]]
* [[List of companies listed on the New Zealand Exchange]]
* [[List of stock exchanges in the Commonwealth of Nations]]

==References==
{{reflist}}

==External links==
{{commons category|New Zealand Stock Exchange}}
{{wikidata-inline}}
*{{official website|nzx.com}}

{{NZX 50 companies}}
{{World Federation of Exchanges}}
{{authority control}}
[[Category:Financial services companies established in 2002]]
[[Category:Companies based in Wellington]]
[[Category:Financial services companies of New Zealand]]
[[Category:Stock exchanges in Oceania]]
[[Category:Buildings and structures in Wellington City]]
[[Category:Futures exchanges]]
[[Category:Companies in the S&P/NZX 50 Index]]