NXT is a market for small and mid-sized businesses.
NXT provides a platform from which businesses can achieve their growth potential.
Kiwi businesses are looking for an alternative option to access capital with reduced complexity. NXT has a set of simplified listing rules and a new approach to disclosure.
For investors who understand the risk profile of higher-growth companies, NXT provides an opportunity to gain exposure to the next generation of kiwi companies.
A new market for New Zealand's next wave of businesses.
Many small to mid-sized businesses need capital to grow to their full potential. In some cases, they also require a tradeable market for their shares.
Kiwi investors would like to be a part of New Zealand’s success stories. These opportunities are limited when our best and brightest are sold offshore.
The current market mechanisms are not effectively connecting emerging businesses and investors.
Structural changes in New Zealand’s capital markets have allowed us to address these challenges. NXT is built on a model that’s appropriate to the scale of businesses involved.
Key design principles.
Learn how NXT compares to the NZX Main Board, which is targeted at larger, more established businesses.
There is currently a lack of research on many small to mid-sized companies listed on NZX. This limits the breadth of information available to investors and often prevents advisors from discussing these businesses with their clients. To solve this problem, and enhance the quality of information available to investors, independent research is publicly available on all NXT companies.
This research is available to view and download for free from this website.
All companies listed on NXT receive market making services.
The purpose of the market maker is to give the market confidence that, for the majority of the time, there will be an active buyer and seller of shares in NXT companies. This is particularly beneficial for investors in smaller companies, which may have only a few trades per day.
NXT's market maker is an approved NZX Participant firm that provides bid and offer quotations - i.e. offers for which they are willing to buy and sell shares - in each NXT Company.
Designated market makers are a feature of many overseas markets, and are often recognised for reducing the difference between the prices quoted to buy or sell shares, and improving market depth and liquidity.