Stock market operator NZX is planning to launch equity derivatives this year.
Previous attempts to get a viable equity derivatives market going in New Zealand have failed.
NZX chief executive Tim Bennett says he expects it to be successful this time, partly because there is more underlying liquidity in the market and a more sophisticated institutional investor community.
The stock market operator is also planning another revamp of its small companies market.
The Alternative Market (AX) is the exchange's second attempt to make a small companies market work.
Mr Bennett says part of the problem with the AX is that it is similar to the main board.
He says the Financial Markets Conduct Bill, when passed, will allow a different market structure to be created.