An NZX broker has been fined $12,000 for breaking NZX rules in the way so-called crossings of shares were reported.

The broker was not named under a settlement with NZX Regulation approved by the New Zealand Markets Disciplinary Tribunal.

The breaches were of a rule that requires crossings to be reported immediately on the same trading day, with details of price and quantity involved.

A crossing is when a broker acts for both sides of a transaction. The participant delayed reporting the crossings. The penalty is paid to the NZX Discipline Fund and a public statement is issued.