Stock Exchange joins listed firms.

(From The Christchurch Press)

Byline: CHAN Karen

Changes paving the way for the NZ Stock Exchange to become a listed company take effect today when the exchange will formally shed its mutual status and adopt a profit-driven commercial structure.

After more than a decade dedicated to providing low-cost transactions for sharebroker members, the restructuring marks a new era for an organisation that has operated in some form for more than a century.

Armed with a new focus on the development of New Zealand's capital markets, new management, and a new structure, the exchange hopes to draw both new investors and new listings into its expanded …