NZX hires EY to review clearing system glitches

NZX hires EY to review clearing system glitches
Jenny Ruth
Stock exchange operator NZX said it has hired accounting firm EY to conduct an independent review of its technical problems over the last six trading days and is reviewing a range of hardware upgrades to increase processing throughput.It is also working with clearing system vendors to split certain functionality into different processing streams to improve throughput and engaging with software suppliers to market participants to optimise the interconnection between them and NZX's system and the registries to try to reduce system stress.The...

More Finance

Cost-benefit issues in spotlight amid RBNZ review
Finance

Cost-benefit issues in spotlight amid RBNZ review

The Reserve Bank of NZ had received 42 submissions to the review.

Andy Macdonald 09 Oct 2025
ANZ vows to fight CCCFA class action despite ASB settlement
Finance

ANZ vows to fight CCCFA class action despite ASB settlement

“ANZ NZ will continue to defend its case. Our position hasn’t changed.” 

Andy Macdonald 08 Oct 2025
ASB settles CCCFA class action for hefty $135.6m
Finance

ASB settles CCCFA class action for hefty $135.6m

 It ended a four-year class action centred on disclosure obligations.

Andy Macdonald 07 Oct 2025
ASB pays $135.6m to settle long-running CCCFA class action
Finance

ASB pays $135.6m to settle long-running CCCFA class action

High-street lender ASB has agreed to pay $135.6 million to settle a class action brought against it for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA).The settlement – without admission of liability or wrongdoing – concluded four years of legal proceedi...

Staff reporters 07 Oct 2025