26 May 2016

NZX changes how it deals with "unusual movements"

1:52 pm on 26 May 2016

The sharemarket operator, NZX, is changing the way it deals with unusual movements in share prices.

As a licensed market operator, NZX, is obliged to monitor the conduct of participants and trading on its markets, which includes enquiring about unexplained price movements.

The NZX's surveillance unit is going to move to a two-step process, which involves both a confidential enquiry, asking for more detailed information from a company about unusual activity, in addition to the public enquiry, which is what goes on at the moment.

The change takes effect from 6 June.