Halifax New Zealand Gains Derivatives Issuer License

Halifax New Zealand Gains Derivatives Issuer License

Halifax New Zealand Ltd, the online broking firm (www.halifaxonline.co.nz), has gained a derivatives issuer license from the Financial Markets Authority. This allows clients to transact a variety of financial instruments, including futures, options, foreign exchange and contracts for difference (CFDs). The company also can transact shares on local and international share markets.

Managing Director Andrew Gibbs said obtaining a license had been an extended process, but the need to meet stringent FMA requirements had meant Halifax now had world-­class compliance and operating systems, which would enhance the broking experience for clients.

“What makes Halifax different from most other brokers is that we offer the ability to trade on multiple platforms. These allow clients to trade on almost any financial market in the world from their own screens, with brokerage rates that are up to 80% cheaper than offered by High Street firms,” he said.

“The timing of this license is important to us because new legislation means overseas providers of derivatives services can no longer handle New Zealand clients unless they have a local license. To date, only a small number of businesses have obtained a license.”

Halifax, which has offices in Auckland and Wellington, is allied with Australia-
based firm Halifax Investment Services, Australasia’s biggest non-­bank owned
broking firm with offices in Sydney, Melbourne, the Gold Coast and Los Angeles.

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