The Unlisted Securities Exchange (USX) is a cost-efficient and simple share trading platform for small to medium sized companies to provide liquidity and keep their shareholders informed.
Trading in securities quoted on USX can only be undertaken via Brokers who then arrange settlement of the trade.
The USX operates several distinct trading modes for equity securities including:
All trading has a pre-open period when brokers are able to enter and remove orders prior to market open.
It was Launched in December 2003 USX originally traded as the Unlisted Securities trading facility using a trading platform developed by M-Co. The USX went live with two registered brokers and the first trade took place in February 2003. Within a year the USX had 8 registered brokers trading securities in 21 Issuers.
In 2015 USX was granted an exemption from subpart 7 of Part 5 of the Financial Markets Conduct Act 2013 (“the Act”) and certain conditions specified in the Exemption Notice.
As at August 2024 the USX has facilitated in excess of 22,000 trades for 401m shares with a value of over $608m. The total market capitalisation has grown to approximately $2b and our issuers have raised over $486m while listed on the market including an IPO.
USX operated by Efficient Market Services Ltd and it’s shareholders include a number of successful individuals from New Zealand’s finance sector.
Armillary manages the day-to-day operation of USX working with Issuers and Brokers. The technology that powers the trading and information platform has been developed by US-based Fundamental Interactions and is hosted by AWS.
Synergy has for some time been looking to provide its shareholders with a mechanism to deliver better share liquidity and price discovery, and of the options we looked at USX suits us best. USX provides a cost-effective trading solution that I’m sure will be appreciated by our shareholders.
Philip Shewell
Chairman, Synergy International (now Fronde)
We have no need for a full stock exchange listing, but require a service which allows buyers and sellers to post bids and offers independently at arms length from our own management. USX allows us to have a fully transparent, arms-length mechanism for pricing and trading our shares. We have been fully satisfied with the service provided.
Murray Gough
Chairman, Rangatira
USX enables participating companies to gain experience and exposure to the investing public with the option in the future, if they continue to be successful or want to raise capital, to choose to progress onto a registered stock exchange.
Barry Thomas
Chairman, Skyline Enterprises
Please read this important information before proceeding.
WARNING: Unlisted is not a licensed financial product market.
The Unlisted Securities Exchange (USX) is a Financial Product Market operating under an exemption from subpart 7 of Part 5 of the Financial Markets Conduct Act 2013 (“the Act”) and certain conditions specified in the Exemption Notice. Investors trading in securities quoted on Unlisted trade at their own risk and do not have the protections provided by Part 5 of the Act, in relation to: insider trading, market manipulation, continuous disclosure, substantial holding disclosure, relevant interest disclosures, and the monitoring of market obligations by the FMA. USX provides a facility for trading previously allotted securities. USX has its own Market Rules and monitors compliance by Issuers with those Rules.
Before an investor may trade (via a broker) in securities quoted on USX, the investor’s broker will require the investor to sign the USX Information and Disclaimer form, which provides a fuller explanation about USX’s status and what this means for investors.
Click the tick box below to acknowledge you have read and understand this important information. You will then gain access to the Unlisted website.
I acknowledge that I have read and understood this notice and that Unlisted is not a licensed financial product market.
