NZX Limited and S&P Dow Jones Indices, one of the world’s leading providers of financial market indices today announced a strategic agreement to jointly develop, produce and commercialise co-branded investable indices featured on NZX platforms and related data products. The agreement will see the two parties collaborate on the development and commercialisation of the New Zealand index business across equity and fixed income securities.
Per the agreement, from 21 June 2015, S&P DJI will assume responsibility for calculating, publishing and disseminating the NZX indices as well as their distribution and marketing in overseas markets. This relationship capitalises on NZX’s experience in building and operating capital and risk markets and infrastructure, and S&P DJI’s proven track record in global index sales and marketing. Additionally, it opens the door to developing a greater variety of benchmarks representing the New Zealand financial market.
NZX CEO Tim Bennett commented: “We’re excited to be working with S&P DJI, the world’s leading provider and distributor of market indices, and we’re confident that this partnership will further increase the appeal and profile of the New Zealand market among both global and local investors. This partnership will put the New Zealand market on an equivalent footing with other leading markets around the world in terms of calculation methodology, format and distribution. We are looking forward to a constructive and fruitful relationship with S&P DJI.”
“New Zealand has all the typical characteristics of a developed market economy but meanwhile boasts immense potential for the growth of index-based investing,” commented Alex Matturri, Chief Executive Officer of S&P Dow Jones Indices. “Through our collaboration with NZX Limited, we are proud to be at the centre of a series of trailblazing initiatives to facilitate greater investor access to this vibrant market. We are committed to raising the global profile of the NZX indices with our well-recognised marketing and international commercialisation capabilities that utilise the strength of our brand and over 115 years of experience in providing transparent and independent financial market indices.”
Once the agreement commences on 21 June 2015, existing and future indices will be co-branded under the S&P and NZX brands. The benchmark, NZX50 index will become the S&P/NZX50. NZX and S&P DJI will shortly be providing additional information regarding updates to the current index methodologies to align them with S&P DJI’s global benchmarks.
NZX would also like to acknowledge the contribution that ANZ has made to the suite of debt indices over the past six years. ANZ Head of Global Markets New Zealand Andrew Allan commented: “ANZ is proud of its involvement with the ANZ Debt Market Indices over the past six years and with the significant development in both the indices and the New Zealand market over that time. We have valued our working relationship with NZX and are committed to working with NZX, S&P DJI and our customers to ensure this development continues over the coming years.”
Recognising the strategic importance of exchange relationships, S&P DJI has formed a number of unique and dynamic alliances with exchanges in various markets since 2000, including Australia, Canada, India, Japan, Peru and South Korea. S&P DJI also has longstanding commercial and strategic relationships with CBOE and CME, where many of the world’s most actively traded index and volatility derivatives are listed and based on indices calculated and published by S&P DJI. The latest agreement with NZX Limited underlines S&P DJI’s commitment to expanding its network and delivering world-class index services.
For more information, please visit: www.spdji.com.
About NZX Limited
NZX builds and operates capital, risk and commodity markets and the infrastructure required to support them. We provide high quality information, data and tools to support business decision making. We aim to make a meaningful difference to wealth creation for our shareholders and the individuals, businesses and economies in which we operate. To learn more about NZX, please visit: http://www.nzxgroup.com/
About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world’s largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500(R) and the Dow Jones Industrial Average(R), S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.
S&P(R) is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”), a part of McGraw Hill Financial. Dow Jones(R) is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively “S&P Dow Jones Indices”) do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.