The New Zealand Financial Markets Association is the professional body for wholesale (institutional) banking in New Zealand. The Association represents the interests of its members in ensuring the sound management of the over-the-counter financial markets. This is achieved by promoting effective self-regulatory initiatives, advocating for the industry, providing relevant education, and developing and implementing high professional standards to be used by members when dealing in these markets.
NZFMA also maintains and is the Benchmark Administrator for benchmarks and indicative closing rates calculated and published by the NZdata Service.
NZFMA membership is institutionally based, with members providing a wide range of financial services such as corporate banking, trading in financial instruments and trade finance.
Change to the Capture and Calculation Methodology of the Afternoon Closing Rates
In order to maintain global best practice, the New Zealand Financial Markets Association will be changing the way the NZ afternoon closing rates are captured and calculated. The new system will go live on Monday 27 March 2017. Read More
NZFMA Thomson Reuters Charity Golf Classic 2016
The 2016 Charity Golf event raised just over $46,000 for Camp Quality. Our thanks to our sponsors and event supporters for their help. The 2017 NZFMA Thomson Reuters Charity Golf Classic will be held again at the Wairakei International Golf Course and Hilton Lake Taupo from 3rd to 5th of November.
Benchmark Oversight Committee
NZFMA has established the Benchmark Oversight Committee to oversee the capture, calculation and publishing methodology of the New Zealand reference rate and indicative closing rates calculated and published via the NZdata Service by the NZFMA. This committee will review and provide challenge on all aspects of the benchmark determination process appropriate to the benchmark in question, and provide effective oversight for the Benchmark Administrator (NZFMA). This includes consideration of the features and intended, expected or known usage of the benchmarks and the materiality of existing or potential conflicts of interest identified.
The committee includes representation from benchmark submitters, benchmark users, independent industry experts and the regulators.
NZFMA News and Events
As a result of recent reductions in the number of banks willing to contribute to out Bank Bill Reference Rate (BKBM) and in the interest of reducing ongoing compliance obligations for contributing panel banks, the Board of the NZFMA has approved changes to the way in which transaction based tenor mid rates are set for this benchmark. Instead of relying on contributions from panel banks that are reflective of the traded market, the revised methodology automatically extracts actual trades supplemented with best bid and offers from the broker electronic trading platforms. These rates are used to set actual tenor benchmarks and to provide a basis for interpolation of the less liquid tenors. CLICK HERE for a detailed explanation of this new process.
2016 was the 28th anniversary of this event, and it continues to go from strength to strength. The weather was grey skies, light showers with spells of sunshine. A real mix, very similar to some of the golf scores. Saturday night's prize giving was hosted by Thomson Reuters, while the black tie dinner was MC'd by Jeremy Corbett who provided plenty of laughs, and the event raised $47,000 for Camp Quality. A fantastic result, and we thank all the member organisations and individuals who continue to support this event. Read more and view photos/results.
Subscribe to NZdata
For further information and pricing of the NZdata Service, please download the NZdata End User Subscription Agreement. This agreement should be completed and returned to activate a new subscription..
Feedback & Questions
We appreciate any feedback and are happy toanswer any questions youtmay have
Please enter your email and password below and click the 'Login' button.