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NEW ZEALAND - Capital Market Infrastructure Summary

Central Securities Depositories
NZ Clear

BIS Model
Model 3

Settlement Cycle
T+3 for Equities
T+2 for Debt securities

NZX is scheduled to move to T+2 settlement is March 2016, for all trades executed from 7 March 2016 onwards.

The Reserve Bank of New Zealand operates NZClear and New Zealand Central Securities Depository Limited (NZCSD). NZClear provides clearing a

Key terms defined in our glossary:

Central Securities Depository
BIS Model 3
Settlement Cycle

The above information is written as a general guide only and is subject to change. Please refer to our 'Terms' page for more details.