NZClear

NZClear is a real-time settlement system which members access from their premises. This system was formerly known as Austraclear.

Each member has a security account(s) on the system which records the securities “lodged with New Zealand Central Securities Depository Limited” (NZCSD), a custodian, fully owned by the RBNZ. NZCSD becomes the legal owner of the securities on the relevant register and holds securities on behalf of the member, the beneficial owner. The inventory of securities held in the depository currently stands at around NZD92 billion.

Each member also has a system cash account. This account is provided by a financial institution, generally a registered New Zealand bank. The bank providing a system cash account has real time access to set daylight limits (debit caps) on that account.

This site provides access to a range of business documents which both overview and give further insight to:

the functionality of NZClear
the activities and operations of the New Zealand Central Securities depository are described; and

For persons not familiar with NZClear we recommend first reading the Overview document with particular attention to Appendix I which gives a pictorial description of the system structure and Appendix II which describes and illustrates a typical trade on the NZClear System.

NZClear New Zealand Securities

The NZClear Securities page provides members with a database of all securities (Debt and Equity) within the NZClear system. Members have the ability within the webpage to either search the securities database and view the results, or download a comma-delimited CSV file that contains the information.

Contacts and NZClear mailing list

General queries (including ESAS/CLS), RTGSHelpDesk@rbnz.govt.nz
NZClear services, NZClear@rbnz.govt.nz
Corporate Actions & Payments Services, ca@rbnz.govt.nz
Subscribe or unsubscribe to the NZClear mailing list, limited to NZClear members and institutions as authorized by NZClear.

Background/Explanatory Material

Overview of NZClear (also available in PDF 33KB)
NZClear System Rules Effective 01 March 2012 (PDF 323KB)
NZClear System Rules – Notice of amendment NZClear Rules - Effective 01 March 2012 (PDF 130KB)

NZClear Operating Guidelines Effective 1 October 2010 (PDF 431KB)
NZClear NZ STP Options (PDF 180KB)
NZClear Electronic Registries Interface
Memorandum of Understanding 11 October 2010 (PDF 1.5MB)

Forms

FINEWISS Registry Agreement (PDF 139KB)

Operational Information

Report on controls over the NZClear system for the period 1 October 2011 to 31 December 2011 (PDF 10MB)
Annual Report for NZClear – 2011 (PDF 156KB)
Report on controls over the NZClear system for the period 1 July 2011 to 30 September 2011 (PDF 9.8MB)
NZClear Fee Schedule as at June 2010 (PDF 128KB)
NZClear New Zealand members

Archived annual reports and auditor’s reports

Industry Reports/RTGS Bulletin

The RTGS Bulletin provides our customers with a series of brief notes about current matters of interest to both ESAS Account Holders and NZClear members. Each item usually includes a reference to the person or section to whom further enquiries should be directed. However, please also feel free to contact Adrienne Barlow (00 644) 471 3629, email barlowa@rbnz.govt.nz, on any NZClear issue.

November 2011 Industry Update (PDF 791KB)
March 2011 RTGS Bulletin (PDF 344KB)
ESAS/NZClear Survey Results February 2011 (PDF 729KB)
User Advisory Committee Meetings August 2011 (PDF 24KB)
Archived Industry Reports and RTGS Bulletins

NZClear User Group Meeting

Minutes of the NZClear User Group Meeting November 2011 (PDF 206KB)
NZClear User Group Presentation November 2011 (PPT 1.06MB)
Archived User Group minutes and presentations