Designated settlement systems

There are three designated settlement systems the FMA is jointly responsible for regulating with the RBNZ. 

Designated settlement systems are subject to ongoing oversight by the FMA and the Reserve Bank. However, it is not compulsory for settlement systems operating in New Zealand to be designated.

A settlement system will only be recommended for designation after a thorough assessment by the regulators, who will assess, amongst other things, the clarity and legal certainty of the rules of a system, its financial soundness and risk management policies, and the capability and capacity of the operator.

On 14th August 2020, the RBNZ and the FMA confirmed that the ASXCF settlement system operated by ASX Clear (Futures), a subsidiary of ASX Limited, has been declared a designated settlement system under Part 5C of the Reserve Bank of New Zealand Act. ASX Clear (Futures) Pty Limited is a subsidiary of ASX Limited. 

The ASXCF settlement system (ASX Clear (Futures) Pty Limited) is used by New Zealand financial institutions to clear and settle New Zealand dollar interest rate futures traded on the ASX market. 

Contact details: 
20 Bridge Street,
Sydney
NSW 2000
Australia

Phone: (02) 9227 0350
Email:[email protected]

NZClear is the securities settlement system and central securities depository for a broad range of fixed interest securities and equities that are issued in New Zealand. It is owned and operated by the RBNZ.

Contact details:
Chief Financial Officer
Financial Services Group
Reserve Bank of New Zealand
PO Box 2498
WELLINGTON
New Zealand

Phone: (04) 472-2029
Email: [email protected]

New Zealand Clearing and Depository Corporation Limited (NZCDC) clears and settles all transactions that are conducted on the markets of the New Zealand stock exchange, NZX Limited (NZX).

Contact details:
Chief Operating Officer and Head of Risk
New Zealand Clearing and Depository Corporation Limited
Level 2, NZX Centre
11 Cable Street
PO Box 2959
WELLINGTON
New Zealand

Phone: +64 4 495 2465
Email: [email protected]