Forum Archive Index - September 2000

["Adam Rands" <adam@iguana.co.nz>]

The problem with the NZSE (well one of them) is that they are struggling to work out what role they are playing.

The NZSE make squillions by selling market information (possibly their biggest revenue stream). This of course puts them in the compromising position when perhaps their most important function is to ensure the market is fully informed.

Speaking from an Iguana perspective - Our monthly royalty bill (for onselling market information) is a 5 figure number and it grows monthly.

To the NZSE, Iguana is like the red haired step grandchild - of little interest.... Where they make the real money is from the major information vendors. Imagine what they are making from the likes of Reuters, Bloomberg and Telerate (assuming they are remitting the correct royalties)

At $50 per screen, per month that would add up to some serious bucks when you consider how many Reuters screens in the world must have access to the NZ market.

Dont expect this problem to go away if any merger with the ASX occurs. The ASX are also excessive in their pricing structure and now as a demutualised company make no bones out of deriving money from information sales.

Adam

 

 

-----Original Message-----
From: Ted <niven@umc.co.nz>
To: sharechat@sharechat.co.nz <sharechat@sharechat.co.nz>
Date: Monday, September 11, 2000 1:01 PM
Subject: [sharechat] Open questions to the NZSE

 

 

I have just looked up the NZSE services site, to try and find the weekly notice I was told about on a previous post about upcoming dividends.

It appears that to be made aware of upcoming company annual announcement dates, upcoming divvy dates, rights issue dates, in fact any dates at all, you have to pay $500 a year.

 

I wonder if anyone could possibly assist me, and probably many others, with the following?

 

1. Surely information as basic as when a dividend is due, or when a company is going to report an annual result, should be made freely available to the public? Or is there somewhere else? (I know NBR has some info but reliability is in question)

 

2. In whose interest is it to keep investors continually in the dark - rather than as informed as possible???

 

3. Does the NZSE believe this lack of accessible information will stimulate share purchasing in New Zealand ?

 

4. When will a merger with ASX take place - pleeaasseee?

 

 

 

Oh, and not to mention market depth!!!!!!