On 11 March 2011, NZX introduced $0.005 price steps on a trial basis in the following NZX Main Board stocks: TEL, KIP, GPG, FPA and AIA. The results of this trial showed that the reduced price steps had a positive impact on liquidity in the selected stocks.
Following the success of the trial and further consultation with Trading Participants, on 7 November 2011 NZX will introduce $0.005 price steps on Dual Listed stocks that trade under $2.50 and all NZX Property Sector stocks. This will include:
- AIR
- IFT
- NZO
- ANO
- ARG
- CDI
- DNZ
- GMT
- KPF
- NPT
- PFI
- VHP
The NZX Main Board stocks that were included in the 3 month trial will continue to trade with $0.005 price steps. Please refer to the NZX Memo dated 10 March 2011 for more information on the trial.
ENDS
