24 Dec 2012

NZX relationship with brokers now improved

7:54 am on 24 December 2012

NZX says its working relationship with brokers has improved, after a testing time under the previous leadership of Mark Weldon.

Brokers complained about charges by the stock market operator, lack of consultation over changes to the market and lengthening the last day's trading before Christmas, which was traditionally finished at 1pm.

New chief executive Tim Bennett has reintroduced an early closure on Christmas Eve, a move welcomed by brokers, and he said there's now a lot more consultation between the two sides.

He said they have a good working relationship and next year they will need to work collaboratively on initiatives such as the growth market and the new alternative market.

Mr Bennett said there was a collaborative approach on the trading system upgrade and the NZX got it done in record time with help of positive support from the industry.