Mark Peterson
Leading questions: Business leaders discuss the year just gone and what will affect them in 2018. Today NZX chief executive talks about how to attract more listings after a quiet year
What is 2018 looking like for your business?
“2017 was about setting the strategy so 2018 is about executing that strategy. Our core business is really going to step up.”
Peterson says the core focus is all about getting new product to market and developing the exchange’s secondary market. “The whole thing is really about execution.”
How is that different to 2017? How has the last year been for your business?
“From a business point of view we are going to turn in a solid performance. The derivative business is flying along.”
Peterson said the NZX’s corporate governance review had been well received by the markets. “Despite being a benign year for products it feels like we have done okay.”
The share market had only one equity listing this year but plenty of companies raised second debt on the market. But Peterson said the NZX had to keep working with the wider market to bring new product to the market. It’s big challenge was competition from the private market which is cashed up and keen to invest in businesses.
What are the issues affecting your industry in the next 12 months?
“A lot of it is going to focus on product — just the need to broaden the product range.”
In 2017 the exchange updated its listing rules which Peterson said was all about setting the foundations for its product to come to market.
“Over and above all that we are about just giving the markets more opportunity to invest.”
Those opportunities could come from local companies looking to list, local government-owned assets, overseas companies with big New Zealand businesses who want to enhance their profile and maybe funds that want to list. “The year is really going to be all about product.”
What is the biggest issue you would like the new Government to champion in 2018?
“We need to engage with the Government.”
Peterson said it had already had some preliminary talks but it would start a proper conversation with the Government next month. By engaging with the Government he hoped they could come up with some key areas to work on together.
Do you get a break this summer? What’s your favourite way to relax?
“Yes, the beach is beckoning. I love being outside and I love the fresh air.”
Peterson is planning to spend some time fishing off the coast of Northland and catching up with friends and family. “A bit of standup paddleboarding is on the agenda.”