Talk:Australian Securities Exchange

message: I found some lovely data on a Wikinvest.com page covering the ASX. Would it be useful to this article? - Vikramparsani (talk) 06:36, 28 October 2008 (UTC)
thread_title:  Historical ASX Data 

message: Wouldn't the ASX be regulated by the Australian Securities and Investments Commission (ASIC), not the ACCC.
: Umm, it says ASIC.  Do you mean is it meant to be ACCC?  (I stuck in the ASX history page, which shows ASIC under 1998, which was the reference for that bit.)  -- Kevin Ryde 01:02, 3 April 2006 (UTC)
thread_title:  ACCC 

message: Do you think its necessary to have AEDT? Suicup 12:34, 27 August 2006 (UTC)
replies: text: AEDT is appropriate IMO. Even if not for international viewers, Australia has 3 or more time zones which means confusion can still happen in the non-east (if that's even a word). Boardumb 13:33, 13 December 2006 (UTC)
thread_title: Time

message: Logo was recently changed from gif to png image, which is good. Unfortunately the png was an outdated logo (ie. it said Australian Stock Exchange not Australian Securities Exchange) so I have changed it back. This means unfortunately that it is still a gif rather than a png image which would be preferable. Orizon 07:45, 11 September 2007 (UTC)
thread_title:  Logo 

message: As per title. 
CFD's started trading on 5th. Nov. 2007.
Cheers,
Todd  —Preceding unsigned comment added by 202.168.119.78 (talk) 05:47, 10 November 2007 (UTC)
thread_title:  CFD's section needs updating. 

message: All Wikipedia Visitors should be able to decide whether to use any relevant external links; that decision should not be made for them by other Wikipedia Editors.  I had entered an external link (details below) but it was removed by other Editors without consultation, even though registration is not required and access is Free to the results of detailed Technical Analysis of all the constituents of S&P / ASX 50 AFLI Index.  If you consider that the external link may be of interest to other Visitors, please add it to the Main page.  
To access the removed external link, click on the ‘History’ tab then click to view Revision 236129688  23:37, 3 September 2008 by TechAnalysis.  Scroll to ‘External Links’ section and click on the removed link. 
*Technical Analysis of ALL the constituents of S&P ASX 50 AFLI Index - Technical Analysis of ALL the constituents of S&P / ASX 50 AFLI Index - Australian Securities Exchange ( formerly Australian Stock Exchange )
TechAnalysis (talk) 15:40, 25 September 2008 (UTC)
thread_title:  External Links 

message: I've created :Category:Companies formerly listed on the Australian Securities Exchange, similar to the one already existing for the New York Stock Exchange. My primary reason was to be able to destinguish mining companies formerly listed on the ASX from the ones still listed there. Hopefully, the delisted companies will slowly now be migrated from the active category. Calistemon (talk) 05:59, 12 January 2010 (UTC)
thread_title:  Category:Companies formerly listed on the Australian Securities Exchange 

message: http://en.wikipedia.org/wiki/List_of_stock_exchanges  Toronto is 8th and there are 3 others (Madrid, Frankfurt, Bombay) that are smaller than Toronto and bigger than ASX.  —Preceding unsigned comment added by Grmike (talk • contribs) 05:53, 24 January 2010 (UTC)
thread_title: ASX is the 12th largest in the world not the 9th

message: *Australian Securities Exchange web site
*ASX Annual Report 2009
Lawson m (talk) 00:05, 30 August 2010 (UTC)
thread_title:  External links 

message: Thanks Maree. It is rather difficult to follow some of your above proposals, due to the lack of formatting, indenting etc. It would help if you checked out how to do layout that sort of stuff: for headings, see WP:LAYOUT. Indentation can be achieved just using colons - the more colons, the deeper the indentation. I have made some changes based on some of what i could decipher from your text. At this stage I would oppose removing the timeline. Eventually, key dates should be translated into prose, but I think it is better to leave it there for now, unless you believe any of the entries are actually incorrect. While it seems to make sense to combine those two infoboxes, I'm pretty sure we can't, the reason being that one follows the template for exchanges, while the other is providing info on the ASX as a company. There is a potentially bigger issue here: whether there should be two completely separate articles, one about the exchange and one about the company. But that's better avoided for the moment i think :-) I've got to go for now. I'll try and get back to this another time (as may other editors). If you are able to supply references for any of the existing uncited text, (without changing the text), I recommend going ahead and inserting them in the article, and just leaving a note here on the talk page that you've done it. We also need to find a more up-to-date market turnover figure than that for 2004, if you can point us to one. hamiltonstone (talk) 01:54, 30 August 2010 (UTC)
replies: text: Agree that any information that is out-of-date or incorrect should be updated and sourced, would not recommend removing sections & just pointing to website, the article needs to be encyclopedic, not just a listing for the company. Agree that the timeline should stay, as encyclopedic articles often emphasize the history and evolution of companies, exchanges, etc. Since the subject of this article is the exchange, the holding company's information should remain in a separate section right now, but this part needs improvement and updating, for sure. Thanks, --Funandtrvl (talk) 16:47, 1 September 2010 (UTC)
thread_title: Progress

message: Hi
these are the areas we recommend for deletion as they are out of date:
Brokers that dominate market share in Australia (in decreasing order) include Macquarie Bank, Goldman Sachs JBWere, UBS, Citigroup, Merrill Lynch, CSFB, Deutsche Bank, ABN AMRO, CommSec and Morgan Stanley. Retail investors account for around 20% of market turnover. Market ownership is broken down as 30% institutional, 40% foreign, 30% retail.
=== Trading systems (SEATS/ITS) ===
Since 2 October 2006, trading of shares, warrants, fixed-interest securities and company-issued options and rights has been conducted on the Click-XT system, also known as the Integrated Trading System (ITS).  The Integrated Trading System processes more transactions per second than the older Stock Exchange Automated Trading System (SEATS), and allows multi-order transactions (up to 5 orders per transaction). SEATS was an all-electronic order matching system, based on time and price priority, and accepted market orders (to buy or sell at market price) or limit orders (to buy at no more than a given price, or to sell at no less than a given price).
=== Short selling ===
Short selling of shares is permitted on the ASX, but only among designated stocks and with certain conditions:
* The sell order must be at a price not lower than the last trade ('uptick rule').
* No more than a total 10% of the shares on issue may be sold short.  (Brokers report net short positions to the ASX daily.)
* Margin cover of 20% of the current share price must be posted.
Many brokers do not offer short selling to small private investors. LEPOs (below) can serve as an equivalent, while contracts for difference (CFDs) offered by third-party providers are another alternative.
In September 2008, ASIC suspended nearly all forms of short selling due to concerns about market stability in the ongoing global financial crisis."Naked short selling not permitted and covered short selling to be disclosed", ASIC, 19 September 2008"Covered short selling not permitted", ASIC, 21 September 2008 The ban on covered short selling was lifted in May 2009."ASIC lifts ban on covered short selling of financial securities", ASIC,  25 May 2009
=== Options ===
Options on leading shares are traded on the ASX, with standardised sets of strike prices and expiry dates.  Liquidity is provided by market makers who are required to provide quotes.  Each market maker is assigned two or more stocks.  A stock can have more than one market maker, and they compete with one another.  A market maker may choose one or both of:
* Make a market continuously, on a set of 18 options.
* Make a market in response to a quote request, in any option up to 9 months out.
In both cases there is a minimum quantity (5 or 10 contracts depending on the shares) and a maximum spread permitted.
Due to the higher risks in options, brokers must check clients' suitability before allowing them to trade options.  Clients may both take (i.e. buy) and write (i.e. sell) options.  For written positions, the client must put up margin.
==== Low exercise price options ====
A Low Exercise Price Option (LEPO) is a European-style call option with a low exercise price of $0.01 and a contract size of 1000 shares to be delivered on exercise.  LEPOs are traded on margin, and a trader may take a long or short position.  Market makers ensure continuous price quotations.
LEPOs work like a futures contract.  Being European-style, they cannot be exercised until expiry. The premium is practically the whole share price, and a trader only posts margin, not the full price.
LEPOs were introduced in 1994, in response to the Sydney Futures Exchange offering futures over individual ASX shares.  Regulations at the time prevented the ASX offering futures contracts, hence the LEPO form.  Presently LEPOs are available on 47 leading stocks.
=== Interest rate market ===
The ASX interest rate market is the set of corporate bonds, floating rate notes, and bond-like preference shares listed on the exchange.  These securities are traded and settled in the same way as ordinary shares, but the ASX provides information such as their maturity, effective interest rate, etc., to aid comparison.
=== Futures ===
The Sydney Futures Exchange (SFE) – now a part of the ASX – was the 10th largest derivatives exchange in the world, providing derivatives in interest rates, equities, currencies and commodities. It provided futures and options on the four most actively traded markets - interest rates, equities, currencies and commodities including wool and cattle. Its most active products are:
*SPI 200 Futures – Futures contracts on an index representing the largest 200 stocks on the Australian Stock Exchange by market capitalisation.
*AU 90-day Bank Accepted Bill Futures – Australia's equivalent of T-Bill futures.
*3-Year Bond Futures – Futures contracts on Australian 3-year bonds
*10-Year Bond Futures – Futures contracts on Australian 10-year bonds.
The ASX trades futures over the ASX 50, ASX 200 and ASX property indexes, and over grain, electricity and wool. Options over grain futures are also traded.
Futures are traded on DTP, the Derivatives Trading Platform (also known as CLICK).
=== Schools' Sharemarket Game ===
ASX's Schools' Sharemarket Game provides school students with the opportunity to hypothetically invest $50,000 in the stock exchange. Students buy and sell shares at current market prices and track the progress of their investments over a ten-week period.ASX Schools Sharemarket Game
=== ASX regulation ===
The Australian Securities and Investments Commission (ASIC) regulates the ASX with an element of self-regulation, creating "co-regulation". There are at least 20 examples of co-regulation:
# As a licensed market, ASX has legal obligations under Corporations Act 2001 (Cth) (s792A, Part 7.2, Div 3) to run a market which is "fair, orderly and transparent".
# ASX must give information to ASIC regarding listed companies:  s 792C.
# ASX must assist ASIC: s 792D.
# ASX must give ASIC access to the market: s 792E.
# ASX can "refer" matters to ASIC for further investigation.
# ASX must lodge an annual compliance report with ASIC: s 792F.
# ASX's Operating Rules are binding in contract: s 793B.
# ASIC must be informed of any changes to ASX Operating Rules: s 793D.
# ASX's Operating Rules may be disallowed by the Minister (Treasury): s 793E.
# ASIC has oversight of all market licensees including ASX.
# ASX must notify ASIC of disciplinary actions it takes against participants: s 792B.
# ASX's Operating Rules are enforceable by ASIC, the market licensee (ASX), clearing house or "a person aggrieved": s 793C.
# The Minister can give directions to ASX: s 794A.
# The Minister can call for a report on specified matters regarding ASX: s 794B.
# ASIC must complete an annual assessment of ASX's compliance with the law: s794C.
# ASIC can give ASX directions to suspend dealings or some other direction to ensure a fair and orderly market: s 794D.
# The Minister may impose conditions on ASX's Australian Market Licence: s 796A.
# Since ASX is itself a public company listed on ASX, ASIC regulates ASX.
# There are limits on the control of ASX (max 15% ownership by one person): Part 7.4, Div 1
# ASX Markets Supervision Pty Ltd, a subsidiary of ASX, is responsible for supervising market operations. It was created to address the perceived conflict between ASX’s regulatory and commercial functions.
# ASIC can investigate ASX: Part 3, ASIC Act 2001 (Cth)
Lawson m (talk) 05:29, 28 September 2010 (UTC)
replies: text: OK, LEPO section deleted. hamiltonstone (talk) 04:30, 29 September 2010 (UTC)

text: A general comment. Maree, it isn't going to work that way. Wikipedia is aiming to host comprehensive summary, encyclopedic information. It isn't and won't aim for brevity per se, and it will actively avoid any possibility of "direct[ing] people to the most up to date source on our website". Thanks for the link that provides info about the products. hamiltonstone (talk) 04:35, 29 September 2010 (UTC)

text: *Reference to Click removed. hamiltonstone (talk) 04:35, 29 September 2010 (UTC)
thread_title: Proposed deletions

message: The Australian Securities and Investments Commission (ASIC) regulates the ASX with an element of self-regulation, creating "co-regulation". There are at least 20 examples of co-regulation:
# As a licensed market, ASX has legal obligations under Corporations Act 2001 (Cth) (s792A, Part 7.2, Div 3) to run a market which is "fair, orderly and transparent".
# ASX must give information to ASIC regarding listed companies:  s 792C.
# ASX must assist ASIC: s 792D.
# ASX must give ASIC access to the market: s 792E.
# ASX can "refer" matters to ASIC for further investigation.
# ASX must lodge an annual compliance report with ASIC: s 792F.
# ASX's Operating Rules are binding in contract: s 793B.
# ASIC must be informed of any changes to ASX Operating Rules: s 793D.
# ASX's Operating Rules may be disallowed by the Minister (Treasury): s 793E.
# ASIC has oversight of all market licensees including ASX.
# ASX must notify ASIC of disciplinary actions it takes against participants: s 792B.
# ASX's Operating Rules are enforceable by ASIC, the market licensee (ASX), clearing house or "a person aggrieved": s 793C.
# The Minister can give directions to ASX: s 794A.
# The Minister can call for a report on specified matters regarding ASX: s 794B.
# ASIC must complete an annual assessment of ASX's compliance with the law: s794C.
# ASIC can give ASX directions to suspend dealings or some other direction to ensure a fair and orderly market: s 794D.
# The Minister may impose conditions on ASX's Australian Market Licence: s 796A.
# Since ASX is itself a public company listed on ASX, ASIC regulates ASX.
# There are limits on the control of ASX (max 15% ownership by one person): Part 7.4, Div 1
# ASX Markets Supervision Pty Ltd, a subsidiary of ASX, is responsible for supervising market operations. It was created to address the perceived conflict between ASX’s regulatory and commercial functions.
# ASIC can investigate ASX: Part 3, ASIC Act 2001 (Cth)
Lawson m (talk) 05:29, 28 September 2010 (UTC)
thread_title:  ASX regulation 

message: Generally, the way to fix these thigns is to bring them up-to-date rather than delete them, unless the section is considered of no help to the article (and I think there are some that do fit that description and which I will delete). Specifics:
MAREE - The suggestions were partly for brevity and to bring the page more inline with what's covered on overseas exchanges.  But mainly because the information was out of date and therefore could be misleading.
* Obviously the ASX must operate a trading system of some sort - is your concern that this section describes an old system, or some other concern? Can you suggest some new wording to accurately describe the current system?
MAREE - alternative text:
ASX executes over 10 million equity trades per month with an average daily value of A$5 billion. ASX also offers an increasingly diversified range of Futures and Options contracts. This year ASX launched ASX Trade™ a NASDAQ OMX ultra-low latency trading platform based on NASDAQ OMX’s Genium INET system. http://www.asx.com.au/professionals/asx_trade/index.htm
The replacement for ITS (formerly SEATS) is due to go live in November 2010. 
* Short selling is well-known and sometimes controversial. I think it is important that the article has a section on this. What is inaccurate in this section, and can you provide sources for the more up-to-date info?
MAREE - I will source something usefl and get back to you
* Can you explain briefly what your concerns are about the section on options (including LEPO)?
MAREE - LEPOS aren't traded any longer
:OK, LEPO section deleted. hamiltonstone (talk) 04:30, 29 September 2010 (UTC)
replies: text: A general comment. Maree, it isn't going to work that way. Wikipedia is aiming to host comprehensive summary, encyclopedic information. It isn't and won't aim for brevity per se, and it will actively avoid any possibility of "direct[ing] people to the most up to date source on our website". Thanks for the link that provides info about the products. hamiltonstone (talk) 04:35, 29 September 2010 (UTC)

text: *Reference to Click removed. hamiltonstone (talk) 04:35, 29 September 2010 (UTC)
thread_title: Comments in response to deletion proposals

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thread_title:  External links modified 

message: No addresses are shown in the article, however a number of the images show past and present buildings. At The ASX Site is a list of locations of the Exchange. Would it be appropriate to show a list of locations in the article? Collywolly (talk) 11:31, 2 May 2019 (UTC)
thread_title:  Locations of the Exchange 

message: There is a move discussion in progress on Talk:ASX which affects this page. Please participate on that page and not in this talk page section. Thank you.  —RMCD bot 01:48, 18 September 2020 (UTC)
thread_title:  Move discussion in progress