NZX unveils Auckland ticker board

NZX has installed a stock ticker board above the Square Cafe in QEII Square. Photo / Dean Purcell.

The stock exchange has launched its first public ticker board in Auckland this morning in a bid to raise public awareness of the capital markets.

NZX chief executive Tim Bennett and Minister of Economic Development Steven Joyce officially turned on the new board which will run around two sides of the Zurich building in QEII Square near the Downtown shopping centre.

Bennett said it decided to put the 64m board up in Auckland as a way to engage the general public.

"We need a more vibrant capital market. We need to get the general public engaged with the market. One of the ways is to display information where they can see it."

The building is located opposite the Britomart train centre and will also be seen by ferry passengers who travel up towards Queen St.

From next year it will run 24 hours a day displaying stock prices, currency and latest news headlines.

Bennett said the NZX had displayed stock exchange information in the past in its Auckland office and the AMP Building on Albert St also had a stock price board.

But this would be the first time a display had been put up in a public place.

"What we have learned from around the world is the need to have a public presence."

The ticker board is the largest high definition screen in Australasia.

The NZX has recently moved into offices on the seventh floor of the Zurich building and is expected to boost its Auckland staff to 20 next year. A year ago they had just one person based in Auckland. The company has 183 staff in total.

Bennett said he expected 2014 to be a "terrific year" for the stock exchange. The NZX50 Index is up 17.9 per cent since the start of the year following a 24 per cent increase in 2012.

"We see the global economy recovering quite well. There is less uncertainty globally. The New Zealand economy could have one of the best years in generations."

Bennett said with business confidence hitting an all time high and companies looking to grow the stock market was one option companies could look to for raising capital.
"We see a reasonably good listing pipeline."

The NZX will also launch a new growth market in the second quarter of 2014 and equity derivatives for institutional investors.

"All of those things point to a great year next year."

A GOOD YEAR

- 10 new companies listed on the NZX in 2013 raising $7.3 billion
- existing listed companies have raised $5.7 billion
- total number of trades up 31.6 per cent compared to last year
- total value traded up 47.9 per cent year to date over last year
- new shareholders grew by 115,149 taking the total number of active accounts to 585,808