The NZX New Zealand stock market group, which runs the securities, derivatives and energy markets in the country and a number of data services, is joining the BT Radianz Cloud community.
The move is intended to expand its global reach making it easier for existing brokers, traders and other market participants on the BT platform to access NZX services.
Commenting on the deal, David Godfrey, head of IT at NZX, said: “Growing interest in NZX’s equity markets and dairy derivatives meant we needed to make it easier for international investors to access our services. The BT Radianz Cloud offers reach, speed and simple access. Its focus on international expansion is aligned to our own objectives and we look forward to working closely with the members of its community.”
Even the equity markets in New Zealand have found renewed momentum in recent times, says Godfrey, with significant growth in what is a struggling area elsewhere in the world evident, alongside the fast-expanding NSX derivatives and diary commodities markets. The exchange group’s main index (the NZX 50) rose 24% in 2012 compared with the previous year, backing up the growth claims. This bodes well for the launch of NZX 20 Index Futures and Equity Options later this year, which were no doubt another driver for BT Radianz deal.
According to Tom Regent, president of global banking and financial markets at BT Global Services, the BT Radianz Cloud brings together participants from across the financial markets’ supply chain internationally, so its scale should aid NZX’s growth plans.