Wednesday, 22 August 2018

Announcement

GENERAL: NZX: NZX to extend dairy derivatives trading hours

19 Dec 2017 08:30NZX
NZX will extend the trading hours of its dairy derivatives market in July
2018, subject to regulatory approval.

This extension supports the New Zealand exchange''s strategy to improve global
access to its dairy derivatives market in response to customer demand.

The trading session will move the existing market close of 4.00pm New Zealand
time to a market close of 10.00pm New Zealand time, extending the session to
20 hours from 14 hours currently. Opening times will remain unchanged.

The extended market hours will facilitate easier trading between Europe and
Asia, two key dairy trading regions. European traders will now have the
ability to place orders and execute trades at the beginning of their trading
day, and the Asian trading session will be extended into their afternoon.

NZX Head of Derivatives Nick Morris commented: "NZX has had strong demand
from customers in Europe and Asia to extend opening hours into their trading
day. This extension will also enable key dairy buying regions, such as the
Middle East and Africa, greater access to NZX''s dairy derivatives market and
support New Zealand''s position as a global leader in this industry."

"We expect to see an increase in participation and volume traded on NZX''s
dairy derivatives market as a result of the new closing time."

NZX will engage with participants, clearers, and independent software vendors
and data vendors in early 2018 on the closing changes. Further information,
including the confirmed effective date, will be released to the market in due
course.

Please see link below for more details on the extended trading hours across
affected time zones:

https://www.nzx.com/markets/nzx-dairy-derivatives/access-the-market

For further information please contact:
Hannah Lynch
Head of Communications
T: 09 308 3710
M: 021 252 8990
E: hannah.lynch@nzx.com
End CA:00312116 For:NZX    Type:GENERAL    Time:2017-12-19 08:30:05
Views: 46
New Zealand Exchange Limited
 1.100 Change:
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Open:1.100 
High:1.100 
Low:1.100 
Volume:21,768 
Last Traded:07/02/18 09:14:37 
Bid:1.100 
Ask:1.100 
52-Wk High:1.240 
52-Wk Low:1.030