NZX Shareholder Metrics - November 2025

NZX Listed IssuersNov 2025Change YoYCapital Listed and RaisedYTDChange YoY
Total equity securities116-4.1%Total capital listed and raised*$591 m$19,436 m28.8%
Total fund securities56-
Total retail debt securities138-4.8%New Capital Listed
Total wholesale debt securities7-12.5%Total capital listed by all issuers*-$10,580 m89.9%
Total other securities7133.3%
Total listed securities324-2.7%Equity listings*-$7,199 m2178.3%
Fund listings---100.0%
Retail debt listings-$3,381 m-35.5%
Total NZX Main Board equity issuers115-4.2%Wholesale debt listings--n/a
Total NZX Main Board fund issuers56-* Includes FCG's transfer to the NZX Main Board in January 2025
Total NZX Debt Market retail debt issuers45-4.3%
Total NZX Debt Market wholesale debt issuers2-Secondary Capital Raised
Total other issuers6100.0%Total capital raised by all issuers$591 m$8,856 m-7.0%
Total unique issuers196-3.0%
Total equity raised - NZ issuers$261 m$5,017 m1.2%
Total equity raised - dual or foreign issuer$55 m$645 m933.8%
Market CapitalisationNov 2025Change YoY% of GDPTotal funds raised - NZ issuers$122 m$1,541 m-8.9%
Total market capitalisation$246,504 m4.5%56.5%Total funds raised - dual or foreign issuer$3 m$475 m343.9%
Total retail debt raised$150 m$1,178 m-56.4%
All equity$182,225 m8.7%41.8%Total wholesale debt raised--n/a
All funds$8,909 m-10.5%2.0%
All other$9 m-44.7%0.0%
Total NZX Main Board$191,143 m7.6%43.8%Total number of secondary capital raising events304 3,197 59.7%
Equity issuers - capital raised < $10m22 198 -1.5%
Retail debt$43,499 m-0.2%10.0%Equity issuers - capital raised ≥ $10m < $100m3 35 66.7%
Green bonds$6,025 m-13.6%1.4%Equity issuers - capital raised ≥ $100m1 10 -
Wholesale debt$5,837 m-24.6%1.3%Fund issuers - capital raised276 2,931 68.2%
Total NZX Debt Market$55,361 m-5.1%12.7%Retail debt issuers - capital raised2 23 -14.8%
Wholesale debt issuers - capital raised- - n/a
Cash MarketNov 2025Change YoY
Total value traded$3,303 m-35.0%Clearing House / DepositoryNov 2025Change YoY
Auction value traded$909 m-59.0%Gross value of cleared trades over month$3,305 m-35.5%
Continuous value traded$1,016 m-17.4%Assets under custody in depository at period end$5,452 m-28.5%
NZX Dark value traded$157 m-17.0%Depository Uplifts9,308 2.9%
% of value on-market63.0%-11.9%Settlement Lines19,506 -0.3%
Total trades814,990-22.4%OTC Trades9,481 1.1%
Daily average value traded$165 m-31.8%
Daily average trades40,750-18.5%
DerivativesNov 2025Change YoY
Total Equity TransactionsFutures - total lots traded69,3797.0%
Total trades809,300-22.5%Options - total lots traded7,70197.0%
Value traded$3,108 m-36.5%Total derivatives lots traded77,08012.1%
% of value on-market64.4%-11.1%Total derivatives lots traded - YTD711,59113.7%
Average on-market trade size$2,495-26.9%Open interest at period end189,93228.4%
Notional value traded ($USD)$390 m-22.2%
Total Debt TransactionsOptions to futures ratio11.1%84.1%
Total trades5,690-11.0%Negotiated Large Trade (NLT) %42.4%-23.4%
Value traded $195 m2.5%
Cumulative Numbers - YTDEnergy and Environment ContractsNov 2025Change YoY
Number of trades9,675,898 15.5%Operating / Technology contracts17-
Total value traded$38,238 m7.5%- contracts ≥ $500k p.a.4-
% of value on-market62.9%-1.2%- contracts $20k - $500k p.a.13-
NZX Limited - Monthly Shareholder Metrics
November 2025
These shareholder metrics represent the key operations of NZX's business.
Core Markets
Nov 2025

NZX Indices PerformanceNov 2025Change YoYWholesale DataNov 2025Change YoY
S&P/NZX 50 Index (Gross)13,4893.2%Terminal numbers - professional6,1190.6%
S&P/NZX 50 Index (Capital)4,8920.2%Terminal numbers - retail1,49010.6%
S&P/NZX 50 Portfolio Index8,5446.1%Licences - value ≥ $20k p.a.791.3%
S&P/NZX NZ Fixed Interest Composite Index1345.8%Licences - value < $20k p.a.65-4.4%
S&P/NZX A-Grade Bond Index6,5416.3%
Direct Data ProductsNov 2025Change YoYDairy Data SubscriptionsNov 2025Change YoY
Proprietary security subscription products273-5.2%Dairy data subscriptions405-1.5%
- products ≥ $3,000 p.a.92-3.2% - products ≥ $1,500 p.a. 131-
- products < $3,000 p.a.181-6.2% - products < $1,500 p.a. 274-2.1%
Nov 2025Change YoY
Total external funds under management$15,530 m16.5%
Scheme FUMNov 2025Change YoY
SuperLife Kiwisaver$2,905 m13.5%
Workplace Savings Master Trusts$3,205 m-4.2%
Smart Exchange Traded Funds - External$4,740 m34.9%
Smart Exchange Traded Funds - Total (external and internal)$6,725 m-15.3%
Other MetricsNov 2025Change YoY
Units on issue1,691 m-33.0%
Value of stock lent over month$95 m-23.4%
Nov 2025Change YoY
Funds under administration$19,551 m22.1%
Smart
Wealth Technologies
Notes
1. All figures are measured at the end of the last trading day of each month unless otherwise stated.
Change refers to the change since the same period last year unless otherwise stated.
2. Equity market capitalisation includes all securities quoted on the NZX Main Board (NZSX).
With an overseas domiciled Issuer, the market capitalisation represents the amount that is held in New Zealand.
3. Market capitalisation for the NZX Debt Market is the total nominal (face) value of all listed securities, excluding New Zealand Government stock.
4. Funds include exchange traded funds, managed funds, listed investment companies and trusts.
5. "Other" securities include rights, warrants and options quoted on the NZX Main Board (NZSX).
6. Auction value traded refers to trades made during the opening and closing auctions.Continuous value traded refers to on market trades made on NZX Central and NZX Debt
Markets during the Normal Trading session. On market value traded refers to all trading excluding off market trades.
7. Please note these operational statistics are based on NZX’s internal records, which are unaudited.
Differences may arise between this data and that disclosed in subsequent audited financial statements.
Differences may also arise between this data and the previously reported data due to rounding and classification restatements.
To enquire about information listed on this sheet, or to find out more about NZX products or services, please email: insights@nzx.com