The NZX 50, New Zealand's benchmark sharemarket index, is set to be rebranded as the S&P NZX 50.
Wellington-based sharemarket operator NZX has secured a "strategic agreement" with S&P Dow Jones Indices, a global provider of index data and research.
From June 21 S&P DJI will assume responsibility for calculating, publishing and disseminating the NZX indices, as well as their distribution and marketing, in overseas markets, NZX said, adding that a greater variety of benchmarks representing the New Zealand financial market could be developed through the partnership.
NZX chief executive Tim Bennett said the changes would increase the appeal and profile of the local market among domestic and global investors.
"This partnership will put the New Zealand market on an equivalent footing with other leading markets around the world in terms of calculation methodology, format and distribution," Bennett said.