Australian Stock Exchange (ASX)

History of the Australian Stock Exchange :

The Australian Stock exchange began as six separate exchanges located in the country's state capitals. The first exchange to be established was the Sydney Stock Exchange in 1871, followed by the Hobart in 1882, Melbourne and Brisbane in 1884, Adelaide in 1887, and Perth in 1889. In 1903, the exchanges held their first interstate conference, which led to the eventual formation of the Australian Associated Stock Exchanges in 1937. Through this organization the exchanges established a common set of rules and regulations.

In 1985, the members of all six Stock Exchange committees met and discussed the possibility of creating one national stock exchange. All six exchanges agreed to this proposal, and in 1987, all six Australian exchanges combined to create the Australian Stock Exchange. The new exchange was located in Sydney. In the same year, the electronic system of trading called SEATS was introduced to the exchange. Initially used to trade just a few stocks, SEATS became the sole system of trading on the ASX in 1990, when the trading floor was closed.

In 1996, the Australian Stock Exchange became a corporation and in 1998 it went public, listing its shares on its own exchange under the ticker symbol ASX. Since it cannot enforce the exchanges rules upon itself, the Australian Securities and Investments Commission ensures that all ASX rules are followed.