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Speaker 1: Big change is coming for the New Zealand Stock Exchange.

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Speaker 1: The chief executive Mark Peterson, has resigned today. He will

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Speaker 1: leave the ins of X at the end of April

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Speaker 1: after nine years at the top, and he's with us now.

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Speaker 2: Hey, Mark, Hi, hear that? How are you well? Thank you?

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Speaker 1: How are you? Do you feel relieved?

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Speaker 2: It's a bit it's been a strange day.

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Speaker 3: You know, when a business has been part of your

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Speaker 3: life for a long time, and you know, obviously the

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Speaker 3: last nine years we've seen lots of changes and challenges

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Speaker 3: and successes, and you know, and to think that that

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Speaker 3: might come to the end in April next year is

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Speaker 3: quite a weird feeling.

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Speaker 2: Yeah.

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Speaker 1: Do you have friends of mine who have recently quit big,

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Speaker 1: high profile jobs have had the experience of almost immediately

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Speaker 1: regretting it once they realize how much people love them

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Speaker 1: in the role. Are you getting any of that?

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Speaker 2: Oh?

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Speaker 3: I know, there's been lots of really nice messages today,

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Speaker 3: which is which is very flattering.

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Speaker 2: But you know, we've still got nine months to go.

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Speaker 2: That's quite a long time.

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Speaker 3: It give us the board a chance to find, you know,

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Speaker 3: a really good new person and I'm sure they make

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Speaker 3: a really good job of that.

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Speaker 2: But time we just got it. We've just got to

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Speaker 2: really keep the pedal down.

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Speaker 1: What's brought it on? Why have you decided to go?

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Speaker 3: Well, a few things. Really, you know, ten years, ten

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Speaker 3: years in the organization. By the time we get to April,

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Speaker 3: it'll be nine years in this role. That's a long stint.

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Speaker 3: You know, I've got to think about, you know, my

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Speaker 3: career and where I'm at with it. You know, probably

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Speaker 3: would like another exec role if I can find one before,

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Speaker 3: you know, before you sort of try and you know,

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Speaker 3: maybe get into givenance type activity. If I don't do,

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Speaker 3: if I don't make that step now, then it starts

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Speaker 3: to become too late. So you know, you've got to

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Speaker 3: make these tough calls. But you know, we've also at

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Speaker 3: the same time to got to a period in the

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Speaker 3: strategy with the exchange where we've ticked off a bunch

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Speaker 3: of a bunch of sort of expectations and objectives that

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Speaker 3: the board is asked of me, and really it's the

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Speaker 3: right time for somebody else to then.

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Speaker 2: Pick it up and take it onto the to the

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Speaker 2: to the next wave.

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Speaker 1: As reading that the ends at X fifty has increased

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Speaker 1: by about seventy seven percent since twenty seventeen. What do

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Speaker 1: you put that down to?

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Speaker 3: Well, you've got you know, there is economic growth. You

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Speaker 3: know that that you know that flows through the economy.

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Speaker 3: You know that that's a big part of it. You know,

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Speaker 3: you've got you know, the moving parts if you like,

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Speaker 3: of what makes up the exchange. You've got the equity side,

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Speaker 3: and the and the and the dead side. Yeah, there's

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Speaker 3: a whole lot of factors, but you know a lot

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Speaker 3: of it comes down to you know, business is actually

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Speaker 3: growing and doing well over that period, which.

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Speaker 1: Is always good. Do you see Do you believe that

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Speaker 1: that the investing culture is taking hold in New Zealand

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Speaker 1: a little bit more with the advent of the likes

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Speaker 1: of Chasis.

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Speaker 2: I do, I absolutely do.

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Speaker 3: I think they've made a big difference for you know,

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Speaker 3: getting you know, the concept of equities you know, into

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Speaker 3: the hands of younger people.

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Speaker 2: You know, you can see them.

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Speaker 3: You know, I've got a family members who have used it.

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Speaker 3: You know, they're really sort of learning, you know, off

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Speaker 3: the back of that, and I think it's been very

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Speaker 3: very effective. So now you've got lots of really positive

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Speaker 3: stuff going on in that regard, and there are other

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Speaker 3: players as well alongside cheeses doing similar things. So now

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Speaker 3: I think you know, you know, when you think about

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Speaker 3: where the property markets are, you know, how the equity

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Speaker 3: markets are moving. You know, it's great to see that

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Speaker 3: sort of those productive asset classes, you know, really starting

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Speaker 3: to have some engagement around it.

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Speaker 1: Yeah, I mean we're obviously headed and have we got

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Speaker 1: enough to invest in? Is really the thing?

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Speaker 2: Well? Yeah we do. I mean we love more. I

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Speaker 2: think that's the I think that's.

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Speaker 1: The How do we get more? What do you reckon?

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Speaker 2: Well, there's a few things to it. You know.

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Speaker 3: We we see lots of businesses that that are interested

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Speaker 3: in accessing capital through the markets.

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Speaker 2: You really want those business to be listed ready.

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Speaker 3: You also need an economic cycle that's supportive you know,

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Speaker 3: of those of those of the timings of all of that.

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Speaker 2: We need the right product.

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Speaker 3: And when I say that that's a bit colloquial, but

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Speaker 3: our product is not just made up of what the

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Speaker 3: exchange does.

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Speaker 2: It actually is made up of what.

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Speaker 3: Law makers make create around it and what regulators create.

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Speaker 3: In the current governm it's been excellent actually at looking

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Speaker 3: at some of those regulatory settings and legal settings making

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Speaker 3: some adjustments around that. Really good progress on that. So

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Speaker 3: far lots more to go, and we'd love to go

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Speaker 3: quicker if we can. But those elements of law and

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Speaker 3: reg and the markets generally, all the players in the

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Speaker 3: market's not just the exchange, but all the players that

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Speaker 3: wrap around at the brokers, the lawyers, that the investment

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Speaker 3: banking teams and all the rest of it. You know,

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Speaker 3: they play a big mark and getting things to grow,

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Speaker 3: and it's all of that that needs to come together.

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Speaker 1: Good stuff, Marke, go well and thanks very much for

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Speaker 1: having a chat to us. It's Mirke Peterson, outgoing Insiex

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Speaker 1: chief executive. For more from Hither Duplessy Allen Drive, listen

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