NZX, EEX to join Fonterra as GDT owners

(Image: Getty)

Thu, 17 Feb 2022

The Global Dairy Trade platform is about to become more liquid and more global.New Zealand’s NZX stock exchange and the European Energy Exchange (EEX) will each take ownership stakes in Global Dairy Trade (GDT) alongside Fonterra under a new ownership structure. The partnership is expected to be completed mid-2022, with Fonterra, NZX and EEX each holding an equal one-third (33.33%) shareholding in the global dairy auction platform. Up until now, the platform has been owned by Fonterra but is operationally and physically separate...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket falls due to global inflation fears

The S&P/NZX 50 Index closed at 11,867.58, down 89.92 points or 0.75%.

Graham Skellern 6:15pm

Economy

Weaker than expected jobs data won't move the rate cut dial

The March quarter jobs data was gloomier than expected.

Rebecca Howard 4:25pm

Weaker than expected jobs data won't move the rate cut dial

WBD's Glen Kyne steps down

Warner Bros Discovery NZ boss Glen Kyne will leave the company in July.

Daniel Dunkley 2:30pm

Sponsored

Cyber alerts in New Zealand on the rise

A shortage of security experts puts pressure on combating threats

Fortinet

Sponsored

Avoiding mistakes many investors make

Managing emotions key to securing long-term returns.

Milford

More Primary Sector

Primary Sector

John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 9:15am