Consultation on changes to NZFMA’s Business Day Definition and adoption of a single financial centre calendar for New Zealand's wholesale financial markets.

7 December 2023

NZFMA invites submissions on proposed changes to the NZFMA Business Day Definition and adoption of a single financial centre calendar for transactions and settlements in New Zealand’s wholesale financial markets.

Key proposals: 

• a new NZFMA Business Day Definition will establish Auckland and Wellington Anniversary Day public holidays (alongside all other regionally observed New Zealand public holidays) as good business days for the purposes of transacting and settling in New Zealand’s wholesale over-the-counter financial markets from mid-2024, and
• NZFMA will undertake advocacy with all relevant stakeholders to create consistent recognition of a single financial centre calendar for New Zealand wholesale over-the-counter financial markets transactions and settlements.

Consultation closes on 31 January 2024

Submissions can be made by:

• Emailing us at: submissions@nzfma.org with the subject line: NZFMA Business Day Definition,
• Sending a letter to: NZFMA, PO Box 641, Wellington 6011, or
• Commenting on our LinkedIn post.

The consultation document is available here

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