What Is the Australian Stock Exchange?


Quick Answer

The Australia Stock Exchange is Australia's main securities exchange that specializes in the trading of financial assets, commodities, foreign exchange, options and futures. The Australian Stock Exchange was founded in 1987 and merged with the Sydney Futures Exchange in 2006. The ASX Group is one of the world's top-10 listed exchange groups by market capitalization and was the world's first major financial market open every day. The Australian Stock Exchange performs financial transactions using the Australian Dollar.

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Full Answer

The Australia Stock Exchange has a market capitalization of about $1.5 million and has one of the largest interest rate derivatives market in Asia and the world. The ASX was founded after the Australian Parliament drafted a legislation that enabled the combination of six independent state-based stock exchanges. The Australian Stock Exchange relies on several subsidiary brands, such as the Australian Securities Exchange, ASX Clearing Corporation, ASX Settlement Corporation and ASX Compliance, to monitor and safeguard the organization's operating rules.

The Australian Stock Exchange claims to be committed to ensuring that Australia has the best infrastructure possible to be competitive in global capital markets and maintain a strong economy. The Managing Director and CEO of ASX is Mr. Funke Kupper, while the Chief Financial Officer is Mr. Ramy Aziz.

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