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Wealth Technologies challenges for NZX

Friday, April 13th 2018, 8:24PM

The NZX has acknowledged slow progress with adding its first client to its Wealth Technologies platform.

The platform was purchased in 2015 for $1.5 million.

In 2016, it was announced that Craigs Investment Partners would be its first client.

In a speech to the NZX’s annual meeting, chief executive Mark Peterson said it had taken longer than expected to on-board the platform’s first client. “It has also taken more resource than first thought. I can tell you that today we are on track to have the core system ready in June, with platform transition occuring at the end of Q3. We are committed to delivering a quality product.”

Hobson Wealth was reported to be anticipated as the platform’s second client but Peterson did not reference that deal.

Tags: NZX

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