New Zealand Index

The New Zealand Exchange Limited is located in Wellington and includes more than 175 companies with a market capitalization of $47 billion.

The exchange began as several regional stock exchanges during the 1870s Gold Rush. The regional exchanges were brought together in 1974 to form the New Zealand Stock Exchange. In 1991 the exchange began a system of computerized trading and did away with the open outcry market. The computer system was updated in 1999.

In 2002 the New Zealand Stock Exchange became a limited liability company and formally changed its name to New Zealand Exchange Limited. In 2003 the NZX listed its own securities on its main equit market.

The NZX operates three main markets: the New Zealand Stock Market, for premier equities; the New Zealand Alternative Market, for smaller and growing companies; and the New Zealand Debt Market, for futures and options.

The New Zealand Exchange is home to many of the country's best-known brands. Many are part of the NZX 50, which includes the top 50 companies on the exchange. The largest companies in the index include Auckland International Airport, AMP Limited Ordinary Shares, AMP NZ Office Trust, Fletcher Building Limited, Fisher and Paykel Healthcare, Kiwi Income Property, Freightways Limited, Sky City Entertainment, Telecom Corporation of New Zealand and Sky Network Television.

The CEO of the exchange is Mark Weldon, a former Olympic swimmer who represented New Zealand in the 1992 Summer Olympics in Barcelona, Spain. He has advanced business degrees from the University of Auckland and a law degree from Columbia University. He was ranked No. 25 on the New Zealand Listener Power List of the 50 most powerful people in the country; it was his first appearance on the l ist.

New Zealand Index Articles - by BetterTrades