Minters pitches in on trading platform buy

by Sol Dolor22 Nov 2017
MinterEllisonRuddWatts is advising in ANZ Bank New Zealand’s (ANZ) sale of its online trading platform to First NZ Capital Securities.

ANZ is selling its only share-and-bond-trading platform, called ANZ securities, to FNZC but will retain retail debt capital markets distribution through an alliance agreement. The platform under new management will be called Direct Broking.

Partner Cathy Quinn ONZM is leading the firm’s corporate deal team acting on the transaction. She said the firm is drawing on its expertise in technology, financial services, and tax expertise.

The deal is expected to close during the second half of 2018, subject to conditions. ANZ will continue to offer current services while the deal is being worked out.

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