NZX revenues up 29pc

Photo Mark Mitchell.

Stock exchange operator NZX lifted operating revenue 29 per cent to $31.1 million in the nine months to September.

Operating expenditure for the nine months lifted 58 per cent on the same period in 2008 to $16.5m, while ebitdaf (earnings before interest, tax, depreciation, amortisation and financial instruments) gained 8 per cent to $14.7m.

NZX chief executive Mark Weldon said the result showed solid performance across all NZX business lines, with significant revenue contributions from agribusiness and energy market operations that were not represented in 2008.

NZX now owned an integrated set of businesses with expertise in information, infrastructure and markets across the securities, energy and agribusiness sectors.

Initial listing fee revenue was up 80 per cent to $256,000 in the first three quarters of 2009 compared to the same period in 2008.

Secondary listing fee revenue lifted 140 per cent to $3.33m, while annual listing fee revenue dropped $300,000 to $4.3m.

The outlook for fourth quarter listings revenue was stronger than for the third quarter as equity initial public offerings returned and secondary equity raising continued, NZX said.

Trade numbers were beginning to show year-on-year increases which management expected to continue, while declines in real-time data terminals were thought to have stabilised.

Before the end of the year the contract specification, launch date and other details for whole milk powder futures would be finalised and released.

The total value traded on the NZX in the third quarter was down 11 per cent on a year earlier at $7.04 billion, but the total number of trades was up 1 per cent to 162,589.

During the quarter $627.5m in new equity was raised taking the year-to-date total to $2.3b, while $150m in new debt was raised taking the total for the year so far to $3b.

- NZPA