Private Bin was nothing short of amazed when an email arrived from NZX today asking for an “electronic copy” of an article NBR published on its website this morning.The article in question was a question-and-answer-style analysis of the NZX's
Private Bin was nothing short of amazed when an email arrived from NZX today asking for an “electronic copy” of an article NBR published on its website this morning.
The article in question was a question-and-answer-style analysis of the NZX’s two-tier information regime, now under the Securities Commission microscope following the Allied Farmers index-ranking affair.
And as part of NBR 24/7’s subscription service, the article was available only to paid up members.
Readers may recall the NZX was roundly flogged for alerting its pay-per-view subscribers that Allied was to be included in the NZX50 index before subsequently reversing that prediction five days later.
The Securities Commission is now focusing on NZX’s obligations to notify all market participants simultaneously of potentially market moving information.
The fact that NZX is now asking NBR for a free copy of an article others must pay for is extremely ironic, if not perhaps a little hypocritical?
And no, we didn't send it to them.
