New Zealand to Fill Markets Gap With Return of NZX Index Futures

New Zealand will offer futures based on the S&P/NZX 20 stock index starting in late April, addressing a longstanding gap in the nation’s capital markets.

The contract will open on April 28 backed by a group of fund managers who are willing to support liquidity, exchange operator NZX said Tuesday in Wellington. Subject to final regulatory approval, NZX has appointed BNP Paribas to serve as the designated market maker, it said.