https://www.stuff.co.nz/business/prosper/125393428/stock-exchange-for-smaller-companies-aims-to-fill-huge-gap

A stock exchange for smaller companies has been granted permission to launch.
Catalist​ was designed to fill a “huge gap” in New Zealand’s capital markets, said chief executive Colin Magee.
For while New Zealand already had a share market, the NZX was only economic for larger companies, not the high-potential smaller companies Catalist would be trying to attract with an initial value of $6million to $60m, he said.


Of particular note for me, is the idea of having the occaisional auction instead of 'continuous' trading.