First NZ Capital Securities Ltd completed the acquisition of ANZ New Zealand Securities Ltd. and renamed the new platform Direct Broking.
The company struck a deal with ANZ Bank New Zealand Ltd. on Nov. 20, 2017, to acquire its securities unit. The deal was completed Dec. 9.
As part of the agreement, First NZ Capital Securities entered into a strategic alliance with ANZ, which would allow Direct Broking clients access to fixed income investment opportunities, according to a Dec. 9 release.
The new company also offers access to Shareclarity's equity research for free. Shareclarity offers real-time research on companies that are listed in New Zealand, Australia and Hong Kong. The two companies are developing new research products for self-directed investors.
First NZ Capital Securities is a unit of First NZ Capital Grp Ltd. ANZ Bank New Zealand is a unit of Australia & New Zealand Banking Group Ltd.