NZX's Smartshares unit, which is being combined with new acquisition Superlife next year, will launch two new exchange traded funds giving investors exposure to Australia's property and high dividend-paying firms, and has appointed Craigs Investment Partners to act as market maker.

The stock market operator has registered a prospectus for two ETFs: the Australian Property Index Trust, which invests in 16 listed Australian property companies, and the Australian Dividend Index Trust, which focuses on the top 50 high dividend-paying listed companies across the Tasman, it said in a statement. The property fund will track the S&P/ASX 200 A-REIT equal weight index and the dividend fund will follow the S&P/ASX Dividend Opportunities Index.

The announcement comes after NZX yesterday said it plans to roll out a series of new ETF's tracking a range of domestic and international debt and equity securities. As part of that plan the stock market has agreed to buy fund manager SuperLife, adding $1.27 billion of funds under management and 41,000 members to Smartshares' $400 million under management.

NZX's Smartshares unit also launched a new market making initiative in association with Craigs, where the broking house will offer two-way quotes of agreed minimum volume and maximum spread for an agreed minimum period covering all current ETFs and future offers.

That's anticipated to boost liquidity in the ETFs and let investors trade at prices closer to funds' net tangible assets on market.

Shares of NZX last traded at $1.20, and have declined 3.2 percent this year.