Global vision for NZX - New trading system goes live

6 July 2007

NZX's new electronic trading platform has gone live today with the launch of the new GlobalVision trading system provided by Trayport.

Stuart Turner, NZX Head of Strategy and Projects said, “The delivery of this project on time and on budget is a great milestone for NZX, as well as Market Participants, who have been heavily involved in rolling out the system over the last eight months.”

NZX Market Participants and key stakeholders have taken part in training, systems testing and dress rehearsals, working jointly with NZX to ensure a successful launch.

John Cobb, Co-Head of Goldman Sachs JBWere (NZ) said, “It is great to see NZX investing in a modern platform that will enable development of enhanced functionality and comfort around reliability.

“The new Trayport system has enabled new functionality, such as a closing algorithm that has been popular with our clients dealing in Australian equities,” said Cobb.

GlobalVision will provide the infrastructure for all the NZX Markets in New Zealand, and will also provide the platform for the AXE ECN in Australia.

Mark Weldon, NZX CEO said, “ The GlobalVision trading system brings us more flexibility and opens up opportunities for our markets. As well as the functional benefits, that can be seen immediately, a key driver of our decision to implement a new trading system was for future development of the NZX Markets.
“The new system will enable trading across a wider range of market products, unlocking currently untapped potential, such as a derivatives market,” said Weldon.

NZX would like to thank the Market Participants for their expertise and contribution to a very smooth and successful process.

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