page_title: Australian Securities Exchange
section_title: History
hierarchical_section_title: Australian Securities Exchange / History
caption_attribution_description: English: Sydney stock exchange in 1959 Русский: Сиднейская фондовая биржа (1959 год)
context_page_description: The Australian Securities Exchange is Australia's primary securities exchange. It is owned by the Australian Securities Exchange Ltd, or ASX Limited, an Australian public company. Prior to December 2006 it was known as the Australian Stock Exchange, which was formed on 1 April 1987, incorporated under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges. It merged with the Sydney Futures Exchange in 2006.
  In the past, ASX had an average daily turnover of A$4.685 billion and a market capitalisation of around A$1.9 trillion, making it one of the world's top 16 listed exchange groups.
context_section_description: The origins of the ASX date back to the mid-1800s when six separate exchanges were established in the capital cities of the British colonies in Australia – Melbourne, Victoria, (1861), Sydney, New South Wales (1871), Hobart, Tasmania (1882), Brisbane, Queensland (1884), Adelaide, South Australia (1887) and Perth, Western Australia (1889).  A further exchange in Launceston, Tasmania, merged into the Hobart exchange.
  In November 1903, the first interstate conference was held to coincide with the Melbourne Cup.  The exchanges then met on an informal basis until 1937 when the Australian Associated Stock Exchanges (AASE) was established, with representatives from each exchange.  Over time, the AASE established uniform listing rules, broker rules, and commission rates.
  Trading was conducted by a call system, where an exchange employee called the names of each company and brokers bid or offered on each.  In the 1960s, this changed to a post system.  Exchange employees called "chalkies" wrote bids and offers in chalk on blackboards continually and recorded transactions made.
  The 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. After demutualisation, the ASX was the first exchange in the world to have its shares quoted on its own market. The ASX was listed on 14 October 1998. On 7 July 2006 the Australian Stock Exchange merged with SFE Corporation, holding company for the Sydney Futures Exchange.
caption: The Sydney Stock Exchange building in 1959
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