Glossary

Bids: the highest price buyers are willing to pay and how many shares they want to buy.

Halt: the investment is in a trading halt, and no trades can occur.

Last traded price: the price the most recent trade went through at.

Match price: buyers and sellers are matched in the pre-open and pre-close auction periods to determine the match price.

Offers: the lowest price sellers are willing to receive and how many shares are up for sale.

Pre-open: the market phase the NZX is in during 8:30 AM and 10 AM New Zealand Standard Time (NZST) which determines the open price of the investment. If there are no match price trades that occur during this phase, the open price is determined by the first trade of the day.

Pre-close: similar to the pre-open phase, a price match occurs between 4:45 PM and 5 PM (NZST) to determine the day’s close price.

Previous close: the last traded price of an investment at the end of the previous trading day.

Spread: the price difference between the offers and the bids.

Today’s high: the highest price that an investment has traded at on that day.

Today’s low: the lowest price that an investment has traded at on that day.

Volume weighted average price (VWAP): the average price an investment has traded at throughout the day, based on both volume and price.