NZX Shareholder Metrics - December 2025

NZX Listed IssuersDec 2025Change YoYCapital Listed and RaisedYTDChange YoY
Total equity securities116-3.3%Total capital listed and raised$2,070 m$21,506 m35.9%
Total fund securities56-
Total retail debt securities138-4.2%New Capital Listed
Total wholesale debt securities7-12.5%Total capital listed by all issuers$404 m$10,984 m88.8%
Total other securities6100.0%
Total listed securities323-2.4%Equity listings$4 m$7,203 m2179.6%
Fund listings---100.0%
Retail debt listings$400 m$3,781 m-31.2%
Total NZX Main Board equity issuers115-3.4%Wholesale debt listings--n/a
Total NZX Main Board fund issuers56-
Total NZX Debt Market retail debt issuers45-2.2%Secondary Capital Raised
Total NZX Debt Market wholesale debt issuers2-Total capital raised by all issuers$1,666 m$10,522 m5.1%
Total other issuers566.7%
Total unique issuers196-2.5%Total equity raised - NZ issuers$151 m$5,168 m1.4%
Total equity raised - dual or foreign issuer$1,179 m$1,824 m1598.5%
Total funds raised - NZ issuers$176 m$1,717 m-6.1%
Market CapitalisationDec 2025Change YoY% of GDPTotal funds raised - dual or foreign issuer$19 m$494 m345.0%
Total market capitalisation$246,948 m4.7%56.1%Total retail debt raised$141 m$1,319 m-53.9%
Total wholesale debt raised--n/a
All equity$182,258 m9.0%41.4%
All funds$9,046 m-9.8%2.1%
All other$8 m-49.7%0.0%Total number of secondary capital raising events370 3,567 58.0%
Total NZX Main Board$191,312 m7.9%43.5%Equity issuers - capital raised < $10m32 230 4.5%
Equity issuers - capital raised ≥ $10m < $100m7 42 61.5%
Retail debt$43,774 m-0.1%10.0%Equity issuers - capital raised ≥ $100m1 11 10.0%
Green bonds$6,025 m-13.6%1.4%Fund issuers - capital raised327 3,258 65.3%
Wholesale debt$5,837 m-24.7%1.3%Retail debt issuers - capital raised3 26 -13.3%
Total NZX Debt Market$55,636 m-4.9%12.6%Wholesale debt issuers - capital raised- - n/a
Cash MarketDec 2025Change YoYClearing House / DepositoryDec 2025Change YoY
Total value traded$2,924 m-51.1%Gross value of cleared trades over month$3,109 m-49.5%
Auction value traded$889 m-24.8%Assets under custody in depository at period end$5,675 m-27.0%
Continuous value traded$919 m-11.2%Depository Uplifts9,387 11.2%
NZX Dark value traded$143 m-28.5%Settlement Lines19,659 6.0%
% of value on-market66.7%65.2%OTC Trades10,358 13.7%
Total trades809,547-7.5%
Daily average value traded$139 m-53.5%
Daily average trades38,550-11.9%
DerivativesDec 2025Change YoY
Total Equity TransactionsFutures - total lots traded87,450117.5%
Total trades804,021-7.5%Options - total lots traded16,453934.8%
Value traded$2,722 m-53.0%Total derivatives lots traded103,903148.5%
% of value on-market68.1%68.6%Total derivatives lots traded - YTD815,49422.2%
Average on-market trade size$2,322-14.0%Open interest at period end202,40838.2%
Notional value traded ($USD)$442 m69.4%
Total Debt TransactionsOptions to futures ratio18.8%375.5%
Total trades5,526-0.8%Negotiated Large Trade (NLT) %40.6%-22.9%
Value traded $202 m3.5%
Cumulative Numbers - YTDEnergy and Environment ContractsDec 2025Change YoY
Number of trades10,485,445 13.3%Operating / Technology contracts17-
Total value traded$41,162 m-0.9%- contracts ≥ $500k p.a.4-
% of value on-market63.2%4.7%- contracts $20k - $500k p.a.13-
NZX Limited - Monthly Shareholder Metrics
December 2025
These shareholder metrics represent the key operations of NZX's business.
Core Markets
Dec 2025

NZX Indices PerformanceDec 2025Change YoYWholesale DataDec 2025Change YoY
S&P/NZX 50 Index (Gross)13,5483.3%Terminal numbers - professional6,146-0.5%
S&P/NZX 50 Index (Capital)4,9040.3%Terminal numbers - retail1,2440.1%
S&P/NZX 50 Portfolio Index8,5967.4%Licences - value ≥ $20k p.a.836.4%
S&P/NZX NZ Fixed Interest Composite Index1335.0%Licences - value < $20k p.a.745.7%
S&P/NZX A-Grade Bond Index6,5595.5%
Direct Data ProductsDec 2025Change YoYDairy Data SubscriptionsDec 2025Change YoY
Proprietary security subscription products273-5.2%Dairy data subscriptions4346.6%
- products ≥ $3,000 p.a.92-3.2% - products ≥ $1,500 p.a. 1385.3%
- products < $3,000 p.a.181-6.2% - products < $1,500 p.a. 2967.2%
Dec 2025Change YoY
Total external funds under management$15,830 m17.6%
Scheme FUMDec 2025Change YoY
SuperLife Kiwisaver$2,925 m13.7%
Workplace Savings Master Trusts$3,218 m-3.6%
Smart Exchange Traded Funds - External$4,889 m36.3%
Smart Exchange Traded Funds - Total (external and internal)$6,784 m-15.6%
Other MetricsDec 2025Change YoY
Units on issue1,639 m-35.5%
Value of stock lent over month$176 m36.4%
Dec 2025Change YoY
Funds under administration$19,940 m23.1%
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