Regulatory Alerts2024-02-15
Financial Market Infrastructure Act Designation Notice (NZCDC) 2024
The Reserve Bank of New Zealand and the Financial Markets Authority issued this notice to designate the NZCDC settlement system as a designated financial market infrastructure under the Financial Market Infrastructures Act 2021. The designation, effective 1 March 2024, identifies NZ Clearing as the specified operator and confirms the system's systemic importance and status as a central counterparty. Consequently, Subpart 5 of the Act applies to the FMI, which is classified as a central counterparty, central securities depository, and securities settlement system.
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