Correct Quote Basis - what is this ?

Good morning team,

Can someone please enlighten me as to what this stuff about "trading under the correct quote basis" means

"NZX Regulation ('NZXR') advises that due an operational error Infratil
Limited ("IFT") debt instruments ("IFT220 & IFT230") are not trading under
the correct quote basis. As a result both IFT220 and IFT230 will be in a
trading halt until market close today."

Thankyou

Hey GTMMy personal opinion of what that means is that the 'system' is providing incorrect quotes. I am also guessing to think that the reason they use the word 'basis' is due to basis points being the unit measure for interest rates. Hope that helps

"30 million infrastructure bond buyback capability. The capability has been established to allow the buyback of bonds if Infratil considers that the secondary corporate bond market has ceased to provide fair value. The capability has no fixed term.

The New Zealand corporate bond market has a long and highly credible record of allowing corporate issuers to borrow on competitive terms and allowing investors to achieve good risk-adjusted returns on their funds. As a major
issuer of bonds into the New Zealand domestic market, Infratil's objective is
to maintain the strong support of its investors and intermediaries.

There is no intention to acquire Infrastructure Bonds when the market is providing fair value and, accordingly, Infratil only intends to exercise this capability in exceptional circumstances.

Any decision to utilise the capability will have regard to Infratil's
financial circumstances at the time and the factors affecting the listed debt market. "

Can anyone help? Am I right in thinking that Infratil are looking to be a market-maker in their own bonds?

https://www.google.co.nz/url?url=htt...REnff6iEDvh_yA

Perhaps the answer lies in the infratil ann. July 2016 but good luck if you are any the wiser. However it would be reasonable to think something is afoot otherwise what is the point of the latest notice.

Quote:

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Originally Posted by GTM 3442

"30 million infrastructure bond buyback capability. The capability has been established to allow the buyback of bonds if Infratil considers that the secondary corporate bond market has ceased to provide fair value. The capability has no fixed term.

The New Zealand corporate bond market has a long and highly credible record of allowing corporate issuers to borrow on competitive terms and allowing investors to achieve good risk-adjusted returns on their funds. As a major
issuer of bonds into the New Zealand domestic market, Infratil's objective is
to maintain the strong support of its investors and intermediaries.

There is no intention to acquire Infrastructure Bonds when the market is providing fair value and, accordingly, Infratil only intends to exercise this capability in exceptional circumstances.

Any decision to utilise the capability will have regard to Infratil's
financial circumstances at the time and the factors affecting the listed debt market. "

Can anyone help? Am I right in thinking that Infratil are looking to be a market-maker in their own bonds?

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It means that if someone is trying to sell their IFT bonds on the cheap then IFT may buy them

Best Wishes
Paper Tiger