Securities Commission Authorises NZX Futures Exchange
NZX is pleased to announce that the Securities Commission has declared NZX Limited an authorised futures exchange for the purpose of Part III of the Securities Markets Act 1988. This enables NZX to operate its Derivatives Market and launch new futures products, including Dairy Futures.
NZX is launching its Derivatives Market on 8 October 2010 with a Global Whole Milk Powder Futures contract. NZX Global Whole Milk Powder Futures will be a vital tool for the dairy industry worldwide to manage price risk in the most heavily traded milk powder product in the world.
NZX Dairy Futures will be traded on the NZX electronic trading platform, GlobalVision, and centrally cleared through the new clearing house, operated by NZ Clearing Corp.
NZX intends to bring more Dairy Futures and other products to its Derivatives Market in the next 12 months.