NZX's Apertyx yet to take full flight
Thursday, August 24th 2017, 7:11AM
NZX’s plans to get its foundation clients onto its Wealth Technologies platform (formerly called Apertyx) has been pushed back to early next year.
It says this is “one quarter later than originally planned, reflecting complexity of transition process and aligning third part(y) activities.”
The two foundation clients are Craigs Investment Partners and Hobson Wealth.
NZX said, in it results announcement, that the “second client implementation” is now likely to be early 2018, “but with a view to progressing to a much more comprehensive utilisation of the system than previously indicated”.
It also says it has a good pipeline of potential opportunities following on from these implementations.
Funds under administration was down 6%, year-on-year to $1.3 billion.
The platform recorded an operating loss of $801,000 in the six months to June 30 on revenue of $721,000. It recorded a loss of $533,000 in the corresponding period last year.
NZX has spent more than $2 million on development of the platform since 2015.
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