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.

IR Markets 1-Day Simulated Trading Workshops - Wellington & Auckland - May

This popular full day workshop will be held again in Wellington on 21 May and Auckland on 23 May. The workshop will help participants build an understanding of the impacts of various economic events on a portfolio of interest rate instruments, assess the outcomes of their trading decisions, and enhance their understanding of trading, risk management, price making and price taking.

Please see the Training Calendar for further details on the course outline and registration information. Registrations are limited and the workshops are filling fast.

Rick Grove Seminar - Wellington & Auckland - April

Rick will provide updates on a variety of topics, including IBOR replacements, initial margin compliance progress, and potential regulatory changes in the US and Europe. He will also outline how Brexit and other geo-political issues will impact markets in 2019.

Rick's session will conclude with comments on several recent cases, including Macquarie Bank v Graceland (market practice, documentation and calculation of termination value) and credit default swap cases ("manufactured" defaults).

The seminars will be held in Wellington 17 April and Auckland 18 April. We thank Bell Gully for hosting these seminars.

Please see the Training Calendar for registration details.

Fall-back Benchmark Consultation

NZFMA are currently consulting on a fall-back benchmark interest rate for BKBM. A fall-back benchmark interest rate is required to comply with the IOSCO Principles for Financial Benchmarks and will ensure that BKBM will meet European Union Benchmark Regulation (EU BMR) equivalence going forward. Read More

Global Code of Conduct

The New Zealand Financial Markets Association fully supports the new FX Global Code released by the GFXC on 25 May 2017. The Code sets out global principles of good practice in the global foreign exchange market. Importantly, the Code covers appropriate conduct for both the buy and sell side, non-bank participants and the trading platforms. This initiative has been further endorsed by both the Reserve Bank of New Zealand and the Financial Markets Authority.

NZFMA are supporting the Global FX Committee's initiative to encourage public registers that publish 'Statements of Commitment' to the FX Global Code. These registers provide market participants with a platform to declare their recognition of, and commitment to adopting the good practices set out in the Global Code. It also assists interested parties to identify market participants that have committee to the Code. View the Code / Submit a Statement of Commitment

NZFMA News and Events

The FMA released the Bank Bill Benchmark Rate and Closing Rates Guidance Note in October 2017.  Read more

Due to unforeseen circumstances the 2019 NZ Financial Markets Charity Golf Classic will now be held at Centennial Golf Club, Taupo and Hilton Lake Taupo on 13-15 September. We will return to Wairakei Golf + Sanctuary in 2020.

We are pleased to announce the event's chosen charity will again be The Neonatal Trust.

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Data Summary

RATES as at 17/07/2019
Delayed Data

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