Australian Securities Exchange (ASX)
Created by merging the six exchanges of the green continent, Australian Securities Exchange (ASX) Since then, it has been at the forefront of the world's stock marketThe company is the 11th largest exchange in the world.
History of the Australian Securities Exchange - 6 in 1
The boom in the railway and extractive industries in Australia in the second half of the 19th century necessitated the creation of a securities trading market for the rapidly developing enterprises. Fortunately, the country had a large number of immigrants from Great Britain, who were already well acquainted with stock exchange traditions.
One by one, trading floors began to be established on the fifth continent: by 1889 there were six major ones, located in the major centers of Australia, such as Sydney, Hobart, Melbourne, Brisbane, Adelaide and Perth. Their leadership was independent of each other, but in order to achieve a common vector of development, they began to hold informal meetings, at which they discussed the most pressing issues at the time. All these activities led to the fact that in 1937 the six exchanges were merged into one association.
The final merger of the sites occurred exactly half a century later: 1987 was the date of the creation of Australian Securities Exchange (ASX)with the control center in Sydney. At the same time, all six of its member exchanges switched to an automatic trading system. In 2006, another member of the ASX became Sydney Futures Exchange, one of the world leaders in trade futures.
Market capitalization Australian Securities Exchange The company's 2010 total was $1.454 billion, giving it 11th place on the list of the world's leading stock exchanges.
In 2010, it was widely announced that a possible ASX merger with the Singapore ExchangeThe two parties to the agreement would allow both to become leaders in the Asian region, not limited to the domestic market, as well as to reduce overall costs and increase the scale of operations. "The proximity in terms of time zones, geographic location and business models also spoke in favor of the merger. However, in April 2011, Australian Finance Minister Wayne Swan officially rejected the proposal of the Singapore side, explaining that the deal is not profitable for his country, which intends to become a regional leader in stock trading.
S&P/ASX Index
The main stock index of the Australian Stock Exchange is S&P/ASX 200which is made up of the 200 most traded stocks or "blue chips" of the stock exchange. Less significant ASX indices are the S&P/ASX 300, S&P/ASX 100 and S&P/ASX 50. Of the stocks traded on the ASX, BHP Billiton, Commonwealth Bank, Telstra, Rio Tinto, National Bank of Australia and the Australia and New Zealand Financial Group have the largest market capitalizations.