 |
|
The Australia stock market is one of the most advanced and progressive in the world. It has listed some of the biggest companies not just in the country but also in the world. Some of those firms are global giant miners Rio Tinto and BHP Billiton and local banks CBA, ANZ and NAB.
The local stock market had its roots planted in 1861. Back then, there were six independent and separate stock exchanges in different states. The exchange in Melbourne was the oldest followed by that in Sydney, Hobart, Brisbane, Adelaide and Perth.
In 1937, after years of interstate conferences and conventions, the Australian Associated Stock Exchanges or AASE was put up. The unified body later established uniform broker rules, commission raters and listing rules.
|
|
| |
|
During its old trading sessions, a call system was the method of trading. A designated exchange employee had to name every company while corresponding brokers offered bids for each stock.
|
| |
 |
During the 1960s, the system was more
popularly known as the ‘post’ system.
Instead of calling out company names,
appointed employees wrote bids on
backboards, using chalk.
In December 2006, the Australian stock
exchange was called the Australian
Securities Exchange or ASX. It was the
combined entity of commodities trader Sydney
Futures Exchange and Sydney-based bourse
operator Australian Stock Exchange. Since
them an all-electronic trading system has
been established and actively used.
As one of the market benchmarks not just in the country but also in the entire Asia-Pacific region, trading at ASX is always monitored by businessmen. There is a pre-market session every 7:00 in the morning to end by 10:000.
|
During the 1960s, the system was more popularly
known as the ‘post’ system. Instead of calling out
company names, appointed employees wrote bids on
backboards, using chalk.
In December 2006, the Australian stock exchange was
called the Australian Securities Exchange or ASX. It
was the combined entity of commodities trader Sydney
Futures Exchange and Sydney-based bourse operator
Australian Stock Exchange. Since them an
all-electronic trading system has been established
and actively used.
|
|
After the time, usual trading session starts from 10:00 in the morning until 4;00 in the afternoon. The stock market is opening daily on alphabetically arranged and single-priced options.
Market turnover and confidence is confidently staying.As of October 2007, ASX has seen a total share turnover of US$1 trillion. Its major market index is called S&P/ ASX 200.
The index is logically made of the biggest 200 stocks. The list replaced the former All Ordinaries index, which up to now is running parallel to the index. ASX features other indexes like the S&P/ ASX 100 and the smaller S&P/ ASX 50.
|
 |
One of the smaller Australian stock markets is the Bendigo Stock Exchange, which cater to large property trusts and smaller community banks. In comparison, BSX’s overall shareholders are more cost effectual and are more practical.
Several medium-sized firms have also joined the lists. Brokers still carry out and facilitate transactions. Some of the most popular brokers in ASX include Macquarie Bank. Morgan Stanley, Deutsche Bank and , ABN AMRO, CSFB and Merrill Lynch. Daily transactions are heavily monitored by consumers, investors and bystanders.
|
|
