Licensed Derivatives Issuers

The FMA has issued new derivatives issuer licences and some former futures dealers are now treated as holding a transitional derivatives issuer licence.

Until 28 February 2015, the requirement to be licensed does not apply to entities that have applied for a derivatives issuer licence until a decision has been made on the application. If a derivatives issuer you are dealing with is not licensed you may wish to confirm whether or not they have applied for a licence and ask them to advise you of the outcome of that application in due course.

New derivatives issuer licences

FSP No.

Company Name

Trading Name

Authorised body*

FSP13823 Tuatara Management Limited    
FSP43662 Centurion Finance Limited Fx International Payments, American Express  
FSP16781 Direct FX Limited    
FSP4041 Forex Limited Forex Limited  
FSP41187 CMC Markets NZ Limited    
FSP197465 MahiFX Limited MFX Compass, MahiFX  
FSP168204 Western Union Business Solutions (Australia) Pty Ltd Western Union Business Solutions  
FSP18923 IG Markets Limited IG, IG Markets  
FSP28944 Pacific Financial Derivatives Limited PFD-NZ  
FSP146605  Halifax New Zealand Limited Halifax New Zealand, Strategic Capital Management Halifax Investment Services Limited
FSP69401 FIRMA Foreign Exchange Corporation (NZ) Limited   FIRMA Foreign Exchange Corporation
FSP94961 HiFX Limited Hifx Limited, Currency Online  
FSP414426 GCG Markets Limited Gcg Markets Limited  

*An authorised body is a related body corporate that has been authorised by FMA to provide a service covered by the licence.

You can find out further details including the licensee’s business address, name of their independent dispute resolution scheme and the conditions that their licence is subject to on the Financial Service Providers Register.

Transitional derivatives issuer licences

The entities listed below are treated as holding a derivatives issuer licence (a transitional derivatives issuer licence) in accordance with clause 45 of schedule 4 to the Financial Markets Conduct Act 2013 (‘FMC Act’) as they were authorised or approved to carry on the business of dealing in futures contracts under the Securities Markets Act 1988 immediately before 1 December 2014 and are required to hold a licence under the FMC Act.

Transitional derivatives issuer licences are valid until 30 November 2016 (unless cancelled earlier). Transitional licence holders are licensed to deal in futures contracts on the same terms as their futures dealer authorisation (unless the conditions of their licence have been varied by the FMA). The Registered Banks listed below however are licensed to issue all derivatives.

For the purposes of the Financial Service Providers Register, entities with a transitional derivatives issuer licence will be treated as providers of a ‘licensed market service’. See more about licensed market services on the Companies Office website.

FSP No.

Company Name

Previous Authorisation/Approval

FSP1762 KVB Kunlun New Zealand Limited Authorised Futures Dealers (KVB Kunlun New Zealand Limited) Notice 2013
FSP365766 Union Standard International Group Pty Limited Authorised Futures Dealers (Union Standard Group Limited) Notice 2014
 

iPredict Limited

Authorised Futures Dealers (iPredict Limited) Notice 2011

The following NZX participants are treated as holding a derivatives issuer licence:

FSP No.

Company Name

Previous Authorisation/Approval

FSP15922 OM Financial Limited Approved by NZX, an authorised futures exchange, to carry on the business of dealing in futures contracts in accordance with the rules of the exchange (see Authorised Futures Exchange (NZX Limited) Notice 2012)

The following Registered Banks are treated as holding a derivatives issuer licence:

FSP No.

Company Name

Previous Authorisation/Approval

FSP29003

ASB Bank Limited

Authorised Futures Dealers Notice (Registered Banks Futures Contracts) 2012
FSP36250 Westpac Banking Corporation Authorised Futures Dealers Notice (Registered Banks Futures Contracts) 2012
FSP22621 TSB Bank Limited Authorised Futures Dealers Notice (Registered Banks Futures Contracts) 2012
FSP19941 Kiwibank Limited Authorised Futures Dealers Notice (Registered Banks Futures Contracts) 2012
FSP25101 Bank of New Zealand Authorised Futures Dealers Notice (Registered Banks Futures Contracts) 2012
FSP36405 ANZ Bank New Zealand Limited Authorised Futures Dealers Notice (Registered Banks Futures Contracts) 2012
FSP14181 The Bank of Tokyo - Mitsubishi UFJ Limited Authorised Futures Dealers Notice (Registered Banks Futures Contracts) 2012