RBNZ to keep and upgrade NZClear, turns down NZX bid

Thu, 10 Mar 2016

By Paul McBeth March 11 (BusinessDesk) - The Reserve Bank of New Zealand will keep and upgrade its NZClear security settlement and depository business after a tender didn't attract "suitable bids", including an offer from stock market operator NZX. The central bank will invest in a new platform for NZClear, which provides clearing and settlement services for high-value debt securities and equities, after none of the bids for the system met its service requirements and commercial terms, the central bank said in a statement. The RBNZ looke...

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