About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, December 19th, 3:05PM
rss
Latest Headlines

Ground is prepared for battle over NZSE

Monday, January 15th 2001, 5:06PM
Wellington Central MP Marian Hobbs has paved the way for a show down on the future of the New Zealand Stock Exchange by offering to sponsor a bill that would allow the NZSE to demutualise.

Demutualisation of the exchange is seen a prerequisite to a merger (or takeover) of the exchange by the Australian Exchange.

The New Zealand Stock Exchange Restructuring is likely to be introduced to Parliament in February and it is expected to be passed into law three or four months later. At this stage it appears to have the support of the two major parties, Labour and National, so its passage looks assured.

Once passed 75% of the exchange's 274 members have to approve demutualisation. Should they do that they will reap a windfall profit.

There appears to be general support for the demutualisation process, but that what happens next is unknown.

The NZSE planned to make an announcement about its planned marriage with the ASX before Christmas, but that announcement has been delayed because more work still needed to be done.

Currently the broking community appears evenly divided on the merger issue, as do many fund managers.

Clearly brokers are waiting for the NZSE to provide them with more detail on the benefits of a merger, and why it should happen.

One of the issues is that although demutualisation is a necessary step to a merger, it is a separate process in itself.

National's finance spokesman Bill English says demutualisation as an end in itself would be preferable to a merger.

"We'd prefer to see demutualisation as a step forward for the NZSE rather than the final act of a dying market.

"It's not at all clear that what effectively mounts to a takeover by the ASX will make it easier for local companies to raise capital."

Questions have also been raised about the unique characteristics of the NZSE and whether they would be maintained in a merged entity.

One rumour circulating the market last year had it that the ASX wanted to agree on a price for the NZSE exchange without guaranteeing ongoing roles for parts of the local market, such as the new capital market for emerging companies.

Editorial: Exchange's future important to all New Zealanders - Click here

« News Round UpGet your tax questions answered online »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • QFEs call for simplification
    “I believe that all advisers should personally be registered or licensed for the services that they provide. Whether working...”
    6 hours ago by I was wondering
  • Fund brings active and passive together
    “Hi Brent Sheather Not sure if SmartShares website is accurate or not but the 3.2% & 2.8% relate to the NZX Midcap (to...”
    7 hours ago by noidea
  • Fund brings active and passive together
    “Hi Bobby WTF indeed but the WTF should be directed to MJW who may well be on serious drugs. SmartFONZ actually returned,...”
    12 hours ago by Brent Sheather
  • Fund brings active and passive together
    “I don't read MJW but FundSource correctly has FNZ ETF returning 2.8% for the Sept quarter. Happy to send you a copy of the...”
    12 hours ago by samstanley
  • Fund brings active and passive together
    “Regardless of timing the launch of the Harbour Advanced Beta Fund is a huge achievement. Well done to Jody, Andrew and team...”
    13 hours ago by samstanley
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.69 6.19 6.55
AMP Home Loans $200k+ 7.14 5.59 6.09 6.45
AMP Home Loans LVR <80% - - 5.75 6.09
ANZ 6.74 6.09 6.19 6.39
ANZ Special - 5.59 5.75 5.99
ASB Bank 6.75 5.99 6.19 6.39
ASB Bank Special - 5.59 5.75 5.85
BankDirect 6.75 5.99 6.19 6.39
BankDirect Special - 5.59 5.75 5.85
BNZ - Classic - 5.69 5.75 5.99
BNZ - GlobalPlus 6.74 5.89 6.19 6.29
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.19 6.29
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 6.05 6.20 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
Lender Flt 1yr 2yr 3yr
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.74 5.99
HBS Special - 5.59 5.49 5.69
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.30 -
Housing NZ Corp 6.74 ▼5.70 ▼6.09 ▼6.29
HSBC Premier 6.84 ▼5.45 ▼5.65 5.99
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.69 6.19 6.55
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.75 5.89
Liberty - - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
Resimac 6.59 6.10 6.28 6.43
SBS Bank 6.65 5.69 5.74 5.99
SBS Bank Special - 5.59 5.49 5.69
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.19 6.39
Sovereign Special - 5.59 5.75 5.85
The Co-operative Bank 6.70 5.69 5.75 5.99
TSB Bank 6.74 5.95 6.19 6.30
TSB Special - - 5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - - 5.99
Median 6.70 5.97 6.19 6.29

Last updated: 15 December 2014 11:07am

News Quiz

A well-commented on story last week mooted that many authorised financial advisers are out of their depths discussing what with their clients?

bonds

death

divorce

piles

birth control

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com