NZX and Fairfax To Link Share Market Info

NZX and Fairfax Media Partner To Link Share Market Information and Breaking News

Statement made by Mark Weldon, Chief Executive Officer, New Zealand Stock Exchange and Joan Withers, Chief Executive Officer, Fairfax Media

NZX and Fairfax Media have combined to introduce a new, online service that will significantly increase the level and accessibility of information available to retail investors, and assist them to understand and participate in the share market.

The partnership sees NZX providing the service with share trading information, financial data and company announcements and Fairfax Media providing breaking news feeds, technical innovation and the hosting function.

The new service brings together the intellectual property, expertise and capabilities of two organisations to deliver a unique, online information services and tools never before available from one source in New Zealand.

On one site, investors will be able to simultaneously monitor share price movements and activity, announcements made by companies, media coverage of companies, general economic news and information on managed funds.

Given the public’s growing interest in share market and managed funds information following the introduction of KiwiSaver, the timing of the new service could not have been better.

The service will incorporate a host of customised data tracking tools that will enable investors to monitor investments of particular interest to them, and as archival information builds will also be able to see what information was topical when price fluctuations occurred.

These functions have been designed with retail investors in mind, in terms of what they offer and how they are operated.

Information will be updated throughout the trading day with company news from the NZX and news coverage from Fairfax Media.

The service will carry advertising, and the revenue from this will be shared between NZX and Fairfax Media.

NZX and Fairfax Media have been collaborating on the development for 18 months.

The former NZX service recorded 82,000 unique browsers a month. Fairfax Media’s stuff.co.nz averages more than 2.3 million unique browsers a month, with Stuff’s Business Section averaging more than 300,000 unique browsers a month.

ENDS

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