NZX50 gets rebrand

NZX Limited and S&P Dow Jones Indices, one of the world’s leading providers of financial market indices have signed a strategic agreement to jointly develop, produce and commercialise co-branded investable indices featured on NZX platforms and related data products.

Friday, February 27th 2015, 4:12PM

The agreement will see the two parties collaborate on the development and commercialisation of the New Zealand index business across equity and fixed income securitie and see the NZX50 rebranded the S&P/NZX50.

From June 21, S&P DJI will assume responsibility for calculating, publishing and disseminating the NZX indices as well as their distribution and marketing in overseas markets.

This relationship capitalises on NZX’s experience in building and operating capital and risk markets and infrastructure, and S&P DJI’s proven track record in global index sales and marketing.

Additionally, it opens the door to developing a greater variety of benchmarks representing the New Zealand financial market.

NZX CEO Tim Bennett said: “We’re excited to be working with S&P DJI, the world’s leading provider and distributor of market indices, and we’re confident that this partnership will further increase the appeal and profile of the New Zealand market among both global and local investors. This partnership will put the New Zealand market on an equivalent footing with other leading markets around the world in terms of calculation methodology, format and distribution. We are looking forward to a constructive and fruitful relationship with S&P DJI.”

Alex Matturri, chief executive of S&P Dow Jones Indices, said: “New Zealand has all the typical characteristics of a developed market economy but meanwhile boasts immense potential for the growth of index-based investing. Through our collaboration with NZX Limited, we are proud to be at the centre of a series of trailblazing initiatives to facilitate greater investor access to this vibrant market. We are committed to raising the global profile of the NZX indices with our well-recognised marketing and international commercialisation capabilities that utilise the strength of our brand and over 115 years of experience in providing transparent and independent financial market indices.”

Existing and future indices will be branded under the S&P and NZX brands.

NZX said it would also like to acknowledge the contribution that ANZ has made to the suite of debt indices over the past six years.

ANZ head of global markets New Zealand Andrew Allan said: “ANZ is proud of its involvement with the ANZ Debt Market Indices over the past six years and with the significant development in both the indices and the New Zealand market over that time. We have valued our working relationship with NZX and are committed to working with NZX, S&P DJI and our customers to ensure this development continues over the coming years.”

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