Today, we’re excited to announce we’ve officially become an NZX cash market trading and clearing participant! To celebrate, the NZX have kindly turned the ticker Sharesies pink.
At Sharesies, our vision is to give someone with $5 the same investment opportunities as someone with $500,000. Since launching in May 2017, we’ve made investing in managed funds and exchange-traded funds easy and accessible to over 48,000 Kiwis.
A few months back, we shared that we were looking to add the ability to start investing in individual companies. 6,000 of you told us you were keen for this to happen, by pre-registering your interest through our website. Since then, we’ve done a bunch of research. We’ve done customer surveys. We’re currently designing and building the product. We’ve made significant changes to our platform and infrastructure. And with today’s announcement, we’re stoked to be one step closer to making that possible.
What’s an NZX Participant?
A Participant is a business accredited by the NZX to participate in NZX markets. This means we can trade directly on the exchange on your behalf! We don’t need to go through a broker to place orders for you, and we can offer everything on the NZX main board to our investors.
Why have we done it?
We want investing to be accessible to everyone, and becoming a participant is a big step towards that goal. We’ll be continuing to offer fractionalised shares for individual companies—the first company in NZ to do this—so that soon you’ll be able to own a bit of everything on the NZX for less than $2.
Our pricing model will also provide a cost-effective solution for all investors, regardless of how much you have to invest. We look forward to providing more details on this closer to launch.
How does this change Sharesies?
For now, nothing fundamentally changes. In a few weeks time, you’ll have an opportunity to invest in all the individual companies and ETFs available on the NZX, directly on market.
We’ll still be encouraging you to invest an affordable amount, regularly, over a long period of time. So, if you’re happy with how your ETF and managed fund investments are going, just keep on doing what you’re doing. We’re simply offering you more investment options if you want it.
Over the next month, until we officially launch, we’ll be rolling out the changes in our product, and publishing blog posts and Help Centre articles to help you navigate these changes.
We’re going to be testing the new platform over the next few weeks. This will be a closed test, available only to some of the people who registered their interest on our website. If you’re not part of the testing, then Sharesies will continue as normal.
After testing is complete (around mid-July), we’ll be opening the platform to everyone as a ‘beta’. From that point, anyone on Sharesies, or signing up to Sharesies, will be able to invest in companies and exchange-traded funds (ETFs) listed on the NZX main board, as well as the managed funds we currently have available.
We’ll be launching this as a beta first because we need your feedback! Our goal is to make investing as accessible as possible, and we can’t do that without your input.
In the meantime, if you haven’t already, pre-register on the website and you may get an invite to pre-launch testing of individual companies.