Membership

NZFMA Membership Categories:

Financial Markets Member

A Financial Markets Member must be a Financial Markets Entity:

  • Any entity or body (whether incorporated or not, but not including an individual) participating in, or carrying on business in wholesale banking and financial markets in New Zealand or overseas; and
  • Such other entity or body at any time and from time to time that the Board determines to be a Financial Markets Entity.

Categories of Financial Markets Members:

Each Financial Markets Member will be categorised, (based on the following criteria) as either:

  • A Large Financial Markets Member (a large sized bank with over 30 wholesale staff); or
  • A Medium Financial Markets Member (a medium sized bank with 11-30 wholesale staff); or
  • A Small Financial Markets Member (a small bank with 0-10 wholesale staff).

Rights of Financial Markets Members

Financial Markets Members, depending on their category type, have a specified number of votes at General Meetings, being either the Annual General Meeting or a Special General Meeting.

  • A Large Financial Markets Member has three votes
  • A Medium Financial Markets Member has two votes
  • A Small Financial Markets Member has one vote.

Financial Markets Members can:

  • attend, be heard and vote at any Board meeting, Annual General Meeting or Special Meeting, having the same number of allotted votes depending on their category of membership.
  • appoint a Financial Markets Member Director and nominate Eligible Directors to the NZFMA Board.
  • be appointed by the Board as a Representative on NZFMA Committees and Working Groups.

International Member

An International Member must be:

  • A bank registered in its country of operation by the appropriate regulatory authority and
  • an active participant in the New Zealand wholesale financial markets.

Financial Intermediary Member

A Financial Intermediary Member must be:

  • A licensed derivatives issuer in New Zealand under the Financial Markets Conduct Act 2013.
  • registered with the New Zealand Companies Office; and
  • an organisation that conducts their business from a premise based in New Zealand.

Affiliate Member

An Affiliate Member is an entity that is a statutory authority, official regulator or similar regulatory body, governing, regulating or administering financial markets in New Zealand or elsewhere.

Partner Member

A Partner Member is an entity which provides services to Financial Markets Entities*.

Rights of International Members, Financial Intermediary Members, Affiliate Members and Partner Members

International Members, Financial Intermediary Members, Affiliate Members and Partner Members can:

  • attend, but not vote at, any Board meeting, Annual General meeting and Special meeting
  • be appointed by the Board, as a Member Attendee, on NZFMA Committees and Working Groups.

*Financial Markets Entity:

  • Any entity or body (whether incorporated or not, but not including an individual) participating in, or carrying on business in wholesale banking and financial markets in New Zealand or overseas; and
  • Such other entity or body at any time and from time to time that the Board determines to be a Financial Markets Entity.

View the list of current NZFMA members

Expressions of interest for NZFMA Membership

You will find more information on NZFMA membership in the NZFMA Rules of Association.

All applications for membership are subject to consideration and approval by the NZFMA Board.

Please contact NZFMA by email to express interest in NZFMA membership.

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