Regulatory Alerts2023-11-12
Financial Market Infrastructures Act Designation Notice (NZClear) 2023
The Reserve Bank of New Zealand and the Financial Markets Authority issued this notice to designate the NZClear settlement system as a designated financial market infrastructure under the Financial Market Infrastructures Act 2021. The notice declares the system systemically important, assigns the Reserve Bank of New Zealand as its operator and participant, and specifies that it falls within the central securities depository and securities settlement system classes. The designation takes effect on 1 March 2024 and subjects the FMI to the standards and requirements of Subpart 5 of Part 3 of the Act.
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