22 May 2017
Changes to NZX market announcement process
NZX advises that operational changes to the way administrative trading halts are applied following the release of a market announcement by a listed company came into effect today.
Listed companies are now required to confirm as part of the operational process when releasing announcements via the Market Announcement Platform (MAP) whether information is material or falls within a prescribed category. This confirmation will be the basis for which an administrative trading halt and “P” flag is applied to the announcement on release.
Announcements will no longer be reviewed by NZX before release and will be automatically released to the market by the listed company.
NZX worked alongside the market, including listed companies and market participants, to ensure its readiness for this change.
Announcements by a third party (for example, substantial product holder notices or takeover announcements) will not be subject to an administrative trading halt, and announcements made by third parties will be highlighted through a new flag “3”. A practice note on how to release third party announcements has been published by NZX and is available at the link below:
https://www.nzx.com/regulation/administrative-trading-halts
NZX previously consulted on this change and a summary of the process can be accessed at the link below:
https://www.nzx.com/regulation/rules-consultation-archive
If you require further information about the changes please visit the administrative trading halts section of the NZX website:
https://www.nzx.com/regulation/administrative-trading-halts
For further information please contact:
Hannah Lynch
Communications Manager
T: 09 308 3710
M: 021 252 8990
E: hannah.lynch@nzx.com
About NZX Limited
NZX builds and operates capital, risk and commodity markets and the infrastructure required to support them. We provide high quality information, data and tools to support business decision making. We aim to make a meaningful difference to wealth creation for our shareholders and the individuals, businesses and economies in the countries in which we operate. To learn more about NZX please visit: www.nzxgroup.com