NZX accredits new depository participant

NZX accredits new depository participant

8 MARCH 2022 – NZX has accredited T.E.A Custodians Limited, a subsidiary of Trustees Executors Limited*, as a depository participant of the New Zealand Clearing and Depository Corporation Limited (NZX Clearing).

Trustees Executors (TE) will be supporting a key strategic client via their supervisory and custodial services. This accreditation continues TE’s ability to offer differentiated and innovative services to their clients, which play an important role in bringing new products to market that build the long-term wealth and financial confidence of New Zealand investors.

NZX Chief Executive Mark Peterson says NZX has been working hard at growing the number of depository participants in the New Zealand market.

“We are excited that TE has joined the community and look forward to working with them,” Mr Peterson says.

NZX General Manager of Market Operations Felicity Gibson says it is positive to see TE become a participant of NZX Clearing.

“This will continue to improve efficiency in the post-trade market in New Zealand,” Ms Gibson says.

TE’s Chief Executive Ryan Bessemer says it is an exciting time for TE as it looks to bolster its core services in the New Zealand fund management market.

“A depository participant accreditation will further enable TE to support our clients’ growth agendas and enhance service offerings for the benefit of investors,” Mr Bessemer says.

T.E.A Custodians Limited’s accreditation is effective immediately.

About Trustees Executors Limited

Trustees Executors Limited (TE) was established in 1881 and is New Zealand’s first Trustee Company. It provides a full range of financial and trust solutions to individuals, families and the corporate sector including estate planning, trustee and investment advisory services.

TE is a Licensed Financial Markets Supervisor and a leading provider of specialist Corporate Trustee and back-office fund administration services to some of New Zealand’s largest financial institutions, banks and fund managers.

*T.E.A Custodians Limited has been accredited as a Depository Participant and Legal Title Transfer Depository Participant. Trustees Executors Limited is registered with the New Zealand Companies Office. Trustees Executors Limited is also a Statutory Trust Company operating under an Act of New Zealand Parliament and a Licensed Financial Markets Supervisor.

ENDS
For further information, please contact:

Media and Investors – Simon Beattie – 021 702 694

About NZX
For more than 150 years we have been creating opportunities for Kiwis to grow their personal wealth and helping businesses prosper. As New Zealand’s Exchange, we are proud of our record in supporting the growth and global ambitions of local companies.
NZX operates New Zealand's equity, debt, funds, derivatives and energy markets. To support the growth of our markets, we provide trading, clearing, settlement, depository and data services for our customers. We also own Smartshares, New Zealand's only issuer of listed Exchange Traded Funds (ETFs), and KiwiSaver provider SuperLife. NZX Wealth Technologies is a 100%-owned subsidiary delivering rich online platform functionality to enable New Zealand investment advisors and providers to efficiently manage, trade and administer their client's assets. Learn more about us at: www.nzx.com

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