Who are APX’s Research Panellists?
The APX model dictates that an Independent research report must be generated for each fund listed on the APX by a specialised and independent research provider to ensure the latest information is available to the market. It is also strongly encouraged that all other listees maintain a nominated research provider to encourage market exposure.
These Research Panellists are usually specialised research houses or brokers and are a unique concept to APX aimed at enhancing the listing experience of our Listees:
Why are Research Panellists Important to APX and its Listees?
A vital aim of the APX model is to ensure that all participants to the market are fully informed and updated with information to ensure that each party has all necessary data to make informed decisions and maximise value.
It is important to have maximum exposure for listees and if research is undertaken by a recognised provider on a regular basis real and potential share/unitholders are able to remain updated as to each company’s activities and performance. While it is important that listees have this exposure it is imperative that the research remains completely independent.
How to become an APX Research Panellist
To become an APX Research Panellist you must first apply to APX and meet the requirements outlined below (a full list can be found in APX Business Rules Chapter 9). A new applicant must:
- Be a person holding a financial services licence;
- Satisfy APX that it is competent to discharge the responsibilities of a research panellist;
- Make an application to APX in the form set out in Appendix 9-2 of the Business Rules; and
- Pay all the prescribed fees to APX
The Application
If interested in signing up to be an APX Research Panellist, it is encouraged that before an application is lodged that you discuss your application for admission with the APX Research Panellist Regulation Department. The pre-application discussion will clarify the admission requirements for APX Research Panellists, the application process and your ongoing requirements as a new APX Registered Research Panellist.
Application Process
Once discussions have been held with the APX Market Research Panellist Regulation Department new applicants are required to complete and submit the relevant application forms (Appendix 9-2 of the APX Business Rules) for admission as a new APX Research Panellist.
The APX Research Panellist Regulation Department will then review the application to ensure it complies with the APX Business rules before preparing a submission supporting the application to the APX Adjudicatory Tribunal who will then consider the application.
Successful applicants
Upon successfully gaining admission as an APX Registered Research Panellist, you will receive a copy of the APX Business and Listing Rules and a certificate of admission as an APX Registered Research Panellist.
What if your application is rejected?
If an APX Research Panellist Application is intended to be rejected APX notifies the person of their intention to reject the application and the reasons for this occurring. The applicant is then provided the opportunity to resolve the issues surrounding the rejection or if further aggrieved with the decision, request a hearing with the APX Appeals Tribunal to address the reasons for the rejection.