Wed 01 July 00:40:54 NZST

Become a Particpant

Market Participant / Participant

A Market Participant / Participant is a business accredited by NZX to participate in the markets provided by NZX.  NZX also accredits individuals within these businesses as NZX Associate Advisors / NZX Advisors and Derivatives Advisors.

Section 3 of the NZX Participant Rules and Section 3 of the Derivatives Market Rules detail the main application requirements for accreditation as an NZX Participant or Derivatives Market Participant.

Applicants must fulfil certain requirements and submit prescribed documents to NZX Regulation. Applicants need to ensure that they are aware of their obligations under each Rule set, relevant to their application, and to implement appropriate processes to comply with the applicable Rule obligations before they submit an application to NZX Regulation.

The following documentation (available on NZX.com), will assist Applicants with their accreditation process:

  • A copy of the Rules;
  • Guidance Notes & Practice Notes issued by NZX;
  • Securities Market - Guide to Becoming a Market Participant; or
  • Derivatives Market - Guide to Becoming an Advising Participant and / or Guide to Becoming a Trading Participant; and
  • The current NZX fee schedule.

The following guides may also be of assistance to you:

NZX Associate Advisor / NZX Advisor / Derivatives Advisor 

To be accredited as an NZX Associate Advisor / NZX Advisor / Derivatives Advisor you must be employed by an NZX Market Participant or Derivatives Market Participant as appropriate.  You must be NZX accredited under either, or both, the Participant Rules and the Derivatives Market Rules to provide advice to clients in respect of the relevant products.

To apply for approval as any of the above Advisor designations, a candidate must fulfil certain requirements and submit documents prescribed by the Rules as set out below:

NZX Associate Advisor 

  • Application documents Appendix 3, 3A & 3B of the Participant Rules;
  • Completion of Kaplan Paper 405N - The New Zealand Stock Market; 
  • Completion of Kaplan Paper 508N - Securities Law & Market Regulation in New Zealand; 
  • Evidence of Registration as an Authorised Financial Advisor (retail only); and
  • Must be working under the Supervision of an NZX Advisor, and have had full time experience for the preceding six months or equivalent Securities industry experience (to be determined by NZX).

NZX Advisor 

  • Application documents Appedix 3, 3A & 3B of the Participant Rules; 
  • Completion of the NZX Diploma (6 Kaplan Papers);
  • Evidence of Registration as an Authorised Financial Advisor (retail only); and 
  • Has been employed or otherwise contracted full time for no less than three years in the preceding five year period prior to the application being submitted, within an NZX Participant Firm or member of a recognised Securities Exchange or has equivalent Securities industry experience (to be determined by NZX).

Derivatives Advisor 

  • Application documents in Appendix Six to the Derivatives Market Rules (Application Form, Schedule 1 & Schedule 2);
  • Completion of Kaplan Paper - FIN229 Futures & Options;
  • Completion of Kaplan Paper - 508N Securities Law & Regulation in New Zealand; and
  • Must be working under the Supervision of a Derivatives Advisor, and has had full time experience for a continous period of eight months or equivalent Derivatives Market industry experience (to be determined by NZX).

For more information please refer to the Kaplan Professional website.

For assistance on becoming a Market Participant / Participant or NZX Associate Advisor / NZX Advisor / Derivatives Advisor please email compliance@nzx.com.