Market depth still on the boil

By Phil Boeyen, ShareChat Business News Editor

Monday 9th April 2001

The NZSE says it's still considering making market depth information available to individual investors in New Zealand but it doesn't have a specific timetable for any decision.

Last year the exchange said a review of issues such as market depth was pending the outcome of discussions with the ASX into a merger.

Market depth - which allows investors to see what buy and sell orders are lined up for stocks - is available in Australia to all investors but in New Zealand only NZSE members have access to the information.

NZSE boss, Bill Foster, says although the ASX merger was cancelled, the exchange is continuing to review future options, including market depth.

"We are separately reviewing it in relation to the development of the New Zealand market."

Mr Foster won't say when any recommendation on market depth might be put to NZSE members for a vote but says a decision is not tied to the proposed demutualisation of the exchange.

The bill on demutualisation is expected to go before a select committee shortly before being approved by parliament.

NZSE members will then move to vote on a demutualisation plan.

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