The Australian Stock Exchange, or ASX, is the organisation responsible for the operation of Australia's primary stock exchange.
The ASX was formed in 1987 by an amalgamation of the separate exchanges located in the six state capitals. It is now located in Bridge St in the Sydney CBD.
The biggest stocks traded on the ASX, in terms of their market capitalization, include BHP Billiton, Telstra, and the National Australia Bank. Their ranking changes quite often. The mining sector makes up a relatively high proportion of the market, and comparatively few manufacturing stocks are listed.
The major market index is the ASX200, an index made up of the top 200 shares in the ASX.
The ASX is a public company, and shares in it are themselves traded on its exchange. The corporation's charter however restricts maximum holdings to a small fraction of the company.
While the ASX is listed on the ASX, and regulates other listed companies, it cannot regulate itself, and exceptionally the ASX is regulated by the Australian Competition and Consumer Commission (ACCC).
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