ASX Limited
From IntFX
See also: ASX for realtime information.
ASX one of the world’s top 10 listed exchange groups, measured by its market capitalization. ASX group operates under the brand, Australian Securities Exchange. It provides markets for corporate control, capital formation and price discovery.
It fulfills following also functions:-
- Operator,
- Supervisor,
- Central counterparty clearer
- Payment system facilitator
The exchange has diverse domestic and international customer base. They include issuers of a variety of listed securities, corporates, investment banks, trading banks, fund managers, hedge funds, CTAs, proprietary and retail traders.
Operating divisions of company are:-
- Operations
- Technology
- Business Development
- Markets Supervision
On 25 July 2006 SFE Corporation Limited and Australian Stock Exchange Limited merged making the combined entity the ninth largest listed exchange in the world. The combined entity offers wide range of integrated suite of products and services covering cash and derivatives markets.
SFE Corporation Limited provides exchange-traded and over-the-counter financial services to institutions throughout the Asia-Pacific region and globally through its following operating subsidiaries:
- Sydney Futures Exchange Limited
- SFE Clearing Corporation Pty Ltd
- SFE Austraclear Limited
ASX Markets Supervision (ASXMS), wholly-owned subsidiary of ASX, plays key role in maintaining integrity of ASX market and build confidence of investors by supervising clearing and settlement activities. Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA) provide regulatory oversight. ASIC also supervises company’s own compliance as a public company with the ASX Listing Rules.
[edit] History
ASX (Australian Stock Exchange Limited) was formed in 1987 by legislation of the Australian Parliament which enabled the amalgamation of six independent stock exchanges that formerly operated in the state capital cities. Later in July 2006 ASX group was created through the merger of the Australian Stock Exchange and the Sydney Futures Exchange, holding company for the Sydney Futures Exchange.
[edit] Strategy
ASX has developed long term strategy on improving scale economies, implementing new systems and larger capital resources. This will give wider coverage and increase confidence in investors.
[edit] Financial performance
The Company’s operating earnings increased to A$552 million in 2007 from A$450 million in 2006. The Company’s profit after tax was up to A$313 million in 2007 from A$215 million in 2006.
