S&P Dow Jones Indices (A&P DJI) and NZX have entered into a strategic agreement to develop, produce and commercialise co-branded investable indices featured on NZX platforms and related data products.
The agreement will see the two parties collaborate on the development and commercialisation of the New Zealand index business across equity and fixed income securities.
Per the agreement, from 21 June, 2015, S&P DJI will assume responsibility for calculating, publishing and disseminating the NZX indices, as well as their distribution and marketing in overseas markets. This relationship capitalises on S&P DJI’s proven track record in global index sales and marketing and NZX’s experience in building and operating capital and risk markets and infrastructure. Additionally, it opens the door to developing a greater variety of benchmarks representing the New Zealand financial market.
“New Zealand has all the typical characteristics of a developed market economy but meanwhile boasts immense potential for the growth of index-based investing,” says Alex Matturri, Chief Executive Officer of S&P Dow Jones Indices. “Through our collaboration with NZX Limited, we are proud to be at the center of a series of trailblazing initiatives to facilitate greater investor access to this vibrant market. We are committed to raising the global profile of the NZX indices with our well-recognised marketing and international commercialisation capabilities that utilise the strength of our brand and over 115 years of experience in providing transparent and independent financial market indices.”
NZX CEO Tim Bennett, says: “S&P DJI is the world’s leading provider and distributor of market indices and will put the New Zealand market on an equivalent footing with other leading markets around the world in terms of calculation methodology, format and distribution. We are confident that this will further increase the appeal and profile of the New Zealand market among both global and local investors. We look forward to a constructive and fruitful relationship with S&P DJI.”