August 7, 2018 / 9:09 PM / 4 months ago

New Zealand's NZX exchange flags changes to pricing structure

(Reuters) - New Zealand bourse operator NZX Ltd (NZX.NZ) said on Wednesday it will implement changes to its trading and clearing pricing structure from October.

The new pricing structure will remove the current NZ$1.31 per-trade fixed fee and move to a fully variable or value-based fee structure, the company said in a statement.

The company had consulted several parties in April to review purported pricing, pricing and technology changes. It said today that certain policy changes and technology will also be introduced, including a minimum crossing size for trading on its main board.

It added that it would increase the functionality of its trading system, X-Stream, which would enable dealers to report off-market trades with increased precision.

The company logged a 28 percent year-on-year fall in its daily average value traded in July.

Reporting by Ambar Warrick in Bengaluru; Editing by Chris Reese

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