29 Jun 2012

Market players welcome NZX re-focus

7:28 am on 29 June 2012

A structural shakeup being spearheaded by new NZX chief executive Tim Bennett - who took over the reins at the exchange last month - will split the company's focus.

In a statement, Mr Bennett says feedback he's received over the last few weeks highlights the need to improve the exchange's relationship with customers, and invest more in its operations and market regulation.

He is forming two distinct groups within the company to remove any perception of a conflict of interest between the exchange's operational and regulatory roles.

A new group, called market services, will take responsibility for market, clearing and derivative operations and customer service, and a more tightly-focused regulation team will handle compliance, enforcement and policy development.

Shareholders Association's chairman, John Hawkins, says he's pleased some of the issues the association raised in meetings with Mr Bennett appear to have been taken on board.