Unlisted is a prescribed exempt financial product market.
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.
We operate several distinct markets for equity and debt securities.
Trading in securities quoted on USX can only be undertaken via Brokers who then arrange settlement of the trade.
USX was launched in December 2003 originally trading as the Unlisted Securities trading facility using a trading platform developed by M-Co. We went live with two registered brokers and the first trade took place in February 2003. Within a year we had 8 registered brokers trading securities in 21 Issuers.
As at October 2019 we have facilitated in excess of 16,500 trades for 295m shares with a value of over $320m. The total market capitalisation has grown to approximately $3b and our issuers have raised over $365m while listed on our market including an IPO.
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.
Who's behind USX?
USX is owned and operated by Efficient Market Services Ltd and it's shareholders include a number of successful individuals from New Zealand's finance sector.
Armillary Private Capital 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 Chelmer.