NZX Limited — Interim / Quarterly Report 2021

Apr 26, 2021

NZX Limited - Quarterly Operating Revenue Q1 2021

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Q1 Operating Revenue	Q1 2021 NZ $000	Q1 2020 NZ $000	Change YoY
Annual listing fees (net of internal revenue allocation)	2,506	2,475	1.3%
Primary listing fees	233	71	228.2%
Secondary issuance fees	649	348	86.5%
Total Issuer Relationships revenue	3,388	2,894	17.1%
Participant services (net of internal revenue allocation)	393	372	5.6%
Securities trading	1,286	1,411	-8.9%
Securities clearing	1,887	1,923	-1.9%
Dairy derivatives	310	448	-30.8%
Consulting & development	470	195	141.0%
Contractual revenue	2,240	2,216	1.1%
Carbon market*	610	-	n/a
Total Secondary Markets revenue	7,196	6,565	9.6%
Royalties from terminals	1,802	1,586	13.6%
Subscriptions and licenses	1,143	1,043	9.6%
Indicies	263	273	-3.7%
Dairy data subscriptions	143	166	-13.9%
Audit and back-dated licenses	474	483	-1.9%
Connectivity	629	582	8.1%
Total Data & Insights revenue	4,454	4,133	7.8%
FUM based revenue	3,572	2,890	23.6%
Member based revenue	464	636	-27.0%
Other revenue	107	118	-9.3%
Funds Management revenue	4,143	3,644	13.7%
Wealth Technologies revenue	1,074	421	155.1%
Regulation revenue	751	756	-0.7%
Corporate revenue	5	116	-95.7%
Total Revenue	21,011	18,529	13.4%

Please note revenue numbers are based on NZX's internal records, which are unaudited.

The comparative information has been reclassified to ensure consistency with the 2020 year end presentation.

• Carbon market revenue includes the revenue from development of the carbon managed auction platform, and from platform service revenue for the Ministry for the Environment (which commenced from the first auction on 17 March 2021).

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	NZX Limited - Quarterly Shareholder Metrics
	Q1 2021
31/03/202	Q1 2021

These shareholder metrics represent the key operations of NZX's business.

Core Markets

NZX Listed Issuers 31.03.21 Change YoY	Capital Raising Q1 2021 Change YoY	Capital Raising Q1 2021 Change YoY	Capital Raising Q1 2021 Change YoY
Total equity securities 134 2.3% Total fund securities 48 6.7%	Total capital raisings $2,543 m 59.2%
Total retail debt securities 143 4.4% Total wholesale debt securities 8 60.0% Total other securities 3 -40.0% Total listed securities 336 4.0% Total NZX Main Board equity issuers 132 2.3% Total NZX Main Board fund issuers 48 6.7% Total NZX Debt Market retail debt issuers 52 2.0% Total NZX Debt Market wholesale debt issuers 2 0.0% Total other issuers 3 -25.0% Total unique issuers 208 4.0%	New Capital Listed
	Total capital listed by all issuers $854 m 70.8% Equity listings $529 m - Fund listings - - Retail debt listings $325 m -35.0% Wholesale debt listings - -
	Secondary Capital Raisings
	Total capital raised by all issuers $1,689 m 54.0% Total equity raised - NZ issuers $533 m 566.3% Total equity raised - dual or foreign issuer $1 m - Total funds raised - NZ issuers $555 m 65.6%
Market Capitalisation 31.03.21 Change YoY % of GDP	Total funds raised - dual or foreign issuer $155 m -39.7%
Total market capitalisation $226,298 m 32.0% 69.4% All equity $177,936 m 35.1% 54.6% All funds $6,724 m 54.2% 2.1% All other $15 m 138.4% 0.0% Total NZX Main Board $184,675 m 35.7% 56.7% Retail debt $33,981 m 3.8% 10.4% Green bonds $3,075 m 241.7% 0.9% Wholesale debt $4,567 m 85.9% 1.4% Total NZX Debt Market $41,623 m 15.3% 12.8%	Total retail debt raised $445 m 4.7% Total wholesale debt raised - - Total number of secondary capital raising events 922 38.2% Equity issuers - capital raised < $10m 90 40.6% Equity issuers - capital raised ≥ $10m < $100m 2 - Equity issuers - capital raised ≥ $100m 1 - Fund issuers - capital raised 820 38.5% Retail debt issuers - capital raised 9 0.0% Wholesale debt issuers - capital raised - -
Cash Market Q1 2021 Change YoY	Derivatives Q1 2021 Change YoY
Total value traded $12,845 m -4.5% Daily average value traded $211 m -2.8% On-market value traded $8,276 m 5.3% % of value on-market 64.4% 10.3% Total trades 4,053,274 82.6% Daily average trades 66,447 85.6%	Futures - total lots traded 65,714 -21.7% Options - total lots traded 10,768 -56.8% Total derivatives lots traded 76,482 -29.7% Open interest 56,454 -16.2% Notional value traded ($USD) $458 m 12.9% Options to futures ratio 16.4% -44.8% Block trade % 1.0% -
Total Equity Transactions
Total trades 4,042,671 83.0% Value traded $12,416 m -4.7% % of value on-market 65.6% 10.4% Average on-market trade size $2,020 -42.7%	Derivatives Total Lots Traded 2019 / 2020 / 2021
Total Debt Transactions
Total trades 10,603 10.9% Value traded $429 m 1.3%

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NZX Indices Performance	**31.03.21 **	Change YoY	Clearing House / Depository	**Q1 2021 **	Change YoY
S&P/NZX 50 Index (Gross)	12,561	28.2%	Gross value of cleared trades over period	$12,867 m	-4.3%
S&P/NZX 50 Index (Capital)	5,226	25.6%	Collateral held at period end	$59 m	-29.0%
S&P/NZX 50 Portfolio Index	7,931	40.1%	Depository transactions over period	23,107	23.0%
S&P/NZX Primary Sector Index	14,078	-3.2%	Assets under custody in depository at period end	$5,122 m	69.8%
S&P/NZX NZ Fixed Interest Composite Index	125	-0.1%	Value of stock lent over period	$0 m	-100.0%
S&P/NZX A-Grade Bond Index	5,848	1.9%
Direct Data Products	**31.03.21 **	Change YoY	Dairy Data Subscriptions	**31.03.21 **	Change YoY
Proprietary security subscription products	309	-1.0%	Dairy data subscriptions	466	-5.9%
- products ≥ $3,000 p.a.	109	0.0%	- products ≥ $1,500 p.a.	104	-10.3%
- products < $3,000 p.a.	200	-1.5%	- products < $1,500 p.a.	362	-4.5%
Wholesale Data	**31.03.21 **	Change YoY	Energy Contracts	**31.03.21 **	Change YoY
Terminal numbers - professional	6,447	6.1%	Operating / Technology contracts	18	5.9%
Terminal numbers - retail	2,133	43.0%	- contracts ≥ $500k p.a.	5	25.0%
Licences - value ≥ $20k p.a.	55	27.9%	- contracts < $500k p.a.	13	0.0%
Licences - value < $20k p.a.	78	-2.5%
Smartshares				**31.03.21 **	Change YoY

Smartshares	**31.03.21 **	Change YoY
Total external funds under management	$5,452 m	60.0%
Scheme FUM	**31.03.21 **	Change YoY
SuperLife Kiwisaver	$1,240 m	40.7%
SuperLife Workplace Savings	$1,406 m	26.5%
Smartshares Exchange Traded Funds - External	$2,130 m	83.8%
Smartshares Exchange Traded Funds - Total (external and internal)	$4,479 m	57.2%
Other Metrics	**Q1 2021 **	Change YoY
Units on issue at period end	1,633 m	27.7%
Value of stock lent over period	$743 m	208.3%
Wealth Technologies	**31.03.21 **	Change YoY
Funds under administration	$7,361 m	236.7%
Notes

1. All figures are measured at the end of the last trading day of each month unless otherwise stated. Change refers to the change since the same period last year unless otherwise stated.

2. Equity market capitalisation includes all securities quoted on the NZX Main Board (NZSX). With an overseas domiciled Issuer, the market capitalisation represents the amount that is held in New Zealand.

3. Market capitalisation for the NZX Debt Market is the total nominal (face) value of all listed securities, excluding New Zealand Government stock.

4. Funds include exchange traded funds, managed funds, listed investment companies and trusts.

5. "Other" securities include options, warrants and options quoted on the NZX Main Board (NZSX).

6. Please note these operational statistics are based on NZX’s internal records, which are unaudited. Differences may arise between this data and that disclosed in subsequent audited financial statements. Differences may also arise between this data and the previously reported data due to rounding and classification restatements.

To enquire about information listed on this sheet, or to find out more about NZX products or services, please email: data@nzx.com

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