New Zealand Exchange Limited (NZX) would like to update stakeholders on the upcoming amendments to the NZAX Market, further to the NZX release on 31 August 2006.
On Monday, 02 October 2006, the following changes will be effective in the NZAX Market:
- The tick size for securities quoted on the NZAX Market will change from 2 cents to match those that apply on the NZSX Market (0.1 cent for any order price up to twenty cents, and 1 cent for any order price above twenty cents).
- Trading hours will be extended from the present 11am – 4pm to more closely replicate those of the NZSX Market.
| SESSION | TIME |
|---|---|
Enquiry |
8am - 9am |
Anonymous Call Auction |
9am - 10am |
Open ( Normal trading session) |
10am – 4.55pm |
Anonymous Call Auction |
4.55pm – 5pm |
Enquiry |
5pm – onwards |
A rules amendment process is required for the anonymous call auction to be removed. Once these changes to the NZX Participant Rules are in effect, expected in January 2007, session states will also be altered to reflect those of the NZSX Market.
