"Wholesale banking and financial markets have a pivotal role in the New Zealand economy."
The New Zealand Financial Markets Association was reformed in 2007 to become New Zealand's professional body for wholesale banking and financial markets. NZFMA is a not-for-profit incorporated society.
NZFMA is not a regulator but an industry body that represents the interests of participants in the wholesale financial markets that are subject to supervision in New Zealand by either the Reserve Bank of New Zealand or the Financial Markets Authority or as regulated internationally by an equivalent regulatory agency. The NZFMA does not represent the interests of markets participants that are not required to be regulated.
NZFMA promotes the efficient operation of the over-the-counter (OTC) markets, advocating high professional standards for financial markets organisations and their staff, and represents the interests of members in advocating sensible and proportionate regulation of the wholesale financial markets.
NZFMA provides relevant educational opportunities specific to financial markets participants, and manages, calculates and distributes New Zealand official market reference rates and pricing services.
The Association's efforts are aimed at promoting best practice in the management of wholesale banking and financial markets to ensure the economic health of New Zealand.