The Australian Stock Exchange (ASX) is the primary national securities trading system in Australia, offering trading services for various securities. Attempts to merge with the Singapore Stock Exchange were blocked by the Australian Federal Government in 2011. The ASX has several smaller exchanges, including the Bendigo Stock Exchange, the Australian National Stock Exchange, and the NSX Wollongong Stock Exchange. The ASX Group, formerly known as the Australian Stock Exchange, continues to modernize and adapt to market conditions.
The Australian Stock Exchange (ASX) is the primary national securities trading system for the nation of Australia, formed in July 2006 when the Australian Stock Exchange (ASE) and Sydney Futures Exchange (SFE) merged. merged. Like most large stock exchange systems, the ASX offers trading services for stocks, futures, exchange-traded funds (ETFs), real estate investment trusts, and more. The ASX is ranked the 11th largest exchange in the world, with trading volume of $1.454 billion US dollars (USD) a year and representing Australia as the 14th largest economy in the world as of December 31, 2010.
Attempts to increase the scope of the Australian Stock Exchange took place in October 2010. Talks were underway to merge the Australian Stock Exchange with the Singapore Stock Exchange (SGX). However, the merger was blocked by the Australian Federal Government in April 2011. Australian Treasurer Wayne Swan blocked the move, stating that it was not in Australia’s national interest as it would have threatened the stability of the Australian financial system. and had a detrimental effect on the Australian labor sector. The SGX was considered to represent smaller regional companies, and the merger would not have given Australia better access to the Asian capital market as expected.
Stock exchanges are not limited to one per country, and Australia is no exception as it also has several smaller exchanges. Three competing exchanges on the Australian Stock Exchange are the Bendigo Stock Exchange (BSX), the Australian National Stock Exchange (NSX) and the NSX Wollongong Stock Exchange. The NSX is linked to the Wollongong and BSX sub-exchanges, and acts as a marketplace for small and medium-sized companies and prominent regional businesses in Australia. It is known to serve as niche listings, as do the Alternative Investment Market (AIM) in Great Britain and the National Association of Securities Dealers (NASDAQ) Automated Listing in the United States.
Continuing to adapt to market conditions, the Australian Stock Exchange adopted a new structure to fit in with the international financial market in August 2010, and was renamed the ASX Group. It continues to modernize, with an evolution that goes back to 1861, ten years after the gold coup in Australia and its first stock exchange was formed in the city of Melbourne. Among many other key milestones is when the Sydney Futures Exchange (SFE), now part of the Australian Stock Exchange, was granted permission in 1999 to establish trading terminals in the United States. This led to the eventual listing of SFE futures on the ASX in 2002, and the merger of both Australian exchanges in 2006.
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