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Encyclopedia > Australian Stock Exchange
ASX Limited
Type Public
Stock Symbol: ASX, Stock exchange(s): ASX
Founded 1987, but dating back to 1871
Headquarters Flag of Australia Sydney, Australia
Key people Maurice Newman (Chair)
Robert Elstone (Managing Director)
Industry Share Exchange
Products Not Applicable
Revenue $279.7 million AUD (Y.E. 30 June 2005)
Employees 492 at 30 June 2005 [1]
Website www.asx.com.au

The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. The ASX began as separate state-based exchanges established as early as 1871. Today trading is all-electronic and the exchange is a public company, listed on the exchange itself. Image File history File links ASX_Logo. ... A public company usually refers to a company which is permitted to offer its securites (i. ... Image File history File links This is a lossless scalable vector image. ... The Sydney Opera House on Sydney Harbour Sydney (pronounced ) is the most populous city in Australia, with a metropolitan area population of over 4,200,000 people, and 151,920, in the city limits. ... A chair or seat is also a seat of office, authority, or dignity, such as the chairperson of a committee, or a professorship at a college or university, or the individual that presides over business proceedings. ... Managing director is the term used for the chief executive of many limited companies in the United Kingdom, Commonwealth and some other English speaking countries. ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... Image File history File links No higher resolution available. ... ISO 4217 Code AUD User(s) Australia, Kiribati, Nauru, Tuvalu, Christmas Island, Cocos (Keeling) Islands, and Norfolk Island Inflation 3. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... A website (or Web site) is a collection of web pages, images, videos and other digital assets and hosted on a particular domain or subdomain on the World Wide Web. ...


Australian Stock Exchange ("ASX") changed its name to Australian Securities Exchange ("ASX") on 5 December 2006.


The biggest stocks traded on the ASX, in terms of their market capitalization, include BHP Billiton, Commonwealth Bank of Australia, Telstra Corporation, National Australia Bank and Australia and New Zealand Banking Group. The mining sector makes up a relatively high proportion of the market, and comparatively few manufacturing stocks are listed. BHP Billiton is the worlds largest mining company. ... The Commonwealth Bank of Australia (ASX: CBA), is the 2nd largest financial institution in Australia and number 41st in the world (according to Fortune Global 500) [5] with businesses in New Zealand, Asia and the United Kingdom. ... Telstra Corporation ASX: TLS is an Australian telecommunications company under joint public/private ownership, holding a dominant position in landline telephone services, large share of mobile phone services, domestic consumer (including dial-up access and broadband cable modem, satellite and ADSL services under the BigPond and Hypermax brands) and business... The National Australia Bank or nab (ASX: NAB, LSE: NAB, NYSE: NAB, TYO: 8637 ) colloquially the National or the NAB. The NAB is part of the NAB Group. ... The Australia and New Zealand Banking Group Limited (Australia and New Zealand Banking Group Limited; ASX: ANZ, NZX: ANZ, NYSE: ANZ), commonly called ANZ, is the third largest bank in Australia, after the National Australia Bank and the Commonwealth Bank. ...


The major market index is the S&P/ASX 200, an index made up of the top 200 shares in the ASX. This supplanted the previously significant All Ordinaries index, which still runs parallel to the S&P ASX 200. Both are commonly quoted together. An index of only the bigger stocks is the S&P/ASX 50. The S&P/ASX 200 index is a stock market index of Australian stocks listed on the Australian Stock Exchange from Standard & Poors. ... Established in January 1980, the All Ordinaries (colloquially, the All Ords) is the oldest index of shares in Australia, so called because it contains nearly all ordinary (or common) shares listed on the Australian Stock Exchange (ASX). ... The S&P/ASX 50 index is a stock market index of Australian stocks listed on the Australian Stock Exchange from Standard & Poors. ...


The ASX is a public company, and its own shares are traded on the ASX. However, the corporation's charter restricts maximum individual holdings to a small fraction of the company.


While the ASX regulates other listed companies listed on the ASX, it cannot regulate itself, and is regulated by the Australian Securities and Investments Commission (ASIC). The Australian Securities & Investments Commission (ASIC) is an independent Australian government body that acts as Australias corporate regulator. ...


The current managing director Robert Elstone was appointed in July 2006. Prior to the merger of ASX with the Sydney Futures Exchange (SFE), Robert Elstone was the CEO of the SFE.

Contents

Market Details

Normal trading is weekdays 10:00am to 4:00pm AEST or AEDT.[1] The market opens alphabetically in single price auctions, phased over the first ten minutes, with a small random time built in to prevent exact prediction of the first trades. There is also a single-price auction between 4:10pm and 4:12pm to set the daily closing prices. As of 30 March 2007, 2014 stocks were listed on the ASX with a total market capitalisation of A$1.39 trillion (US$1.098 trillion or 103% of GDP). At the end of 2004 it was the 8th largest world equity market (on free float basis), comprising around 2.2% of the MSCI World index. Market turnover during 2004 was $A779bn. In mainland Australia, the keeping of standard time is divided into three time zones: Australian Eastern Standard Time EST/AEST (UTC+10), Australian Central Standard Time CST/ACST (UTC+9:30) and Australian Western Standard Time WST/AWST (UTC+8). ... In mainland Australia, the keeping of standard time is divided into three time zones: Australian Eastern Standard Time EST/AEST (UTC+10), Australian Central Standard Time CST/ACST (UTC+9:30) and Australian Western Standard Time WST/AWST (UTC+8). ... March 30 is the 89th day of the year in the Gregorian calendar (90th in leap years). ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the Anno Domini (common) era. ... The MSCI World Index is an index of world stocks. ...


As of April 12 2007 the all ordinaries hit a record high of 6,142,8


Brokers that dominate market share in Australia (in decreasing order) include Macquarie Bank, UBS, Citigroup, Goldman Sachs JBWere, 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. Macquarie Bank Limited is an Australian merchant bank and financial services group, providing a broad range of products and services to investors, corporations and government. ...


History

The exchange began as six separate exchanges established in the state capitals Melbourne (1861), Sydney (1871), Hobart (1882), Brisbane (1884), Adelaide (1887) and Perth (1889).[2] An exchange in Launceston merged into the Hobart exchange too. Melbournes CBD has grown to straddle the Yarra River in three major precincts. ... The Sydney Opera House on Sydney Harbour Sydney (pronounced ) is the most populous city in Australia, with a metropolitan area population of over 4,200,000 people, and 151,920, in the city limits. ... Hobart is the state capital and most populous city of the Australian island state of Tasmania. ... Brisbane (pronounced ) is the capital and most populous city of the Australian state of Queensland, as well as the third largest city in Australia, with a greater metropolitan population of just under two million. ... Adelaide is the capital and most populous city of the Australian state of South Australia, and is the fifth largest city in Australia, with a population of over 1. ... The Perth skyline viewed from the Swan River This article is about the metropolitan area of Perth, Western Australia. ... Launceston is a city in the north of the state of Tasmania, Australia, population approximately 103,000, located at the juncture of the North Esk, South Esk, and Tamar rivers. ...


The first interstate conference was held in 1903 at Melbourne Cup time. 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. The 1976 cup won by Van Der Hum. ...


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 continuously, and recorded transactions made. A blackboard, with multiple colors of chalk A blackboard or chalkboard is a reusable writing surface on which text or drawings are made with chalk or other erasable markers. ...


In 1969 there was a mining boom, triggered by Poseidon NL discovering nickel in Western Australia. See the Poseidon bubble article. Capital Perth Government Constitutional monarchy Governor Ken Michael Premier Alan Carpenter (ALP) Federal representation  - House seats 15  - Senate seats 12 Gross State Product (2004-05)  - Product ($m)  $100,900 (4th)  - Product per capita  $50,355/person (3rd) Population (December 2006)  - Population  2,050,900 (4th)  - Density  0. ... The Poseidon bubble was a stock market bubble in which the price of Australian mining shares soared in late 1969, then crashed in early 1970. ...


In 1976 the Australian Options Market was established, trading call options.


In 1980 the separate Melbourne and Sydney stock exchange indices were replaced by Australian Stock Exchange indices.


In 1984 broker's commission rates were deregulated. Commissions have gradually fallen ever since, with today rates as low as 0.12% or 0.1% from discount internet-based brokers.


In 1987, following work begun in 1985, the separate exchanges merged to form the ASX. Also in 1987 the all-electronic SEATS trading system (below) was introduced. It started on just a limited range of stocks, progressively all stocks were moved to it and the trading floors were closed in 1990.


In 1990 the warrants market (below) was established.


In 1993 fixed interest securities were added (see interest rate market below). Also in 1993 the FAST system of accelerated settlement was established, and the following year the CHESS system (see settlement below) was introduced, superseding FAST.


In 1994 the Sydney Futures Exchange announced futures over individual ASX stocks. The ASX responded with low exercise price options (see below). The SFE went to court,[3][4] claiming LEPOs were futures (certainly their effect is like futures) and therefore the ASX could not offer them. But the court held they were options and so LEPOs were introduced in 1995. The Sydney Futures Exchange (SFE) is both a futures exchange and options exchange located in Australia. ...


In 1995 stamp duty on share transactions was halved from 0.3% to 0.15%. The ASX had agreed with the Queensland State Government to locate staff in Brisbane in exchange for the stamp duty reduction there, and the other states followed suit so as not to lose brokerage business to Queensland. In 2000 stamp duty was abolished in all states as part of the introduction of the GST. Stamp duty is a form of tax that is levied on documents. ... Queensland Government Logo The Government of Queensland is commonly known as the Queensland Government. ... Brisbane (pronounced ) is the capital and most populous city of the Australian state of Queensland, as well as the third largest city in Australia, with a greater metropolitan population of just under two million. ... The GST (Goods and Services Tax) is a value added tax of 10% on most goods and services sold in Australia. ...


In 1996 the exchange members (brokers etc) voted to demutualize. The exchange was incorporated as ASX Limited and in 1998 the company was listed on the ASX itself. The ASX arranged with the Australian Securities and Investments Commission to have it enforce listing rules for ASX Limited. The Australian Securities & Investments Commission (ASIC) is an independent Australian government body that acts as Australias corporate regulator. ...


In 1997 a phased transition to the electronic CLICK system for derivatives began.


In 2006 the ASX announced a merger with the Sydney Futures Exchange, the primary derivatives exchange in Australia. The Sydney Futures Exchange (SFE) is both a futures exchange and options exchange located in Australia. ...


ASX regulation

ASX and the Australian Securities and Investments Commission (ASIC) "co-regulate" ASX. There are at least 20 examples of co-regulation: The Australian Securities & Investments Commission (ASIC) is an independent Australian government body that acts as Australias corporate regulator. ...

  1. As a licensed market, ASX has legal obligations under Corporations Act ss 792A - 792B to run a market which is a "fair, orderly and transparent market".
  2. ASX must give information to ASIC regarding listed companies: s 792C.
  3. ASX must assist ASIC: s 792D.
  4. ASX must give ASIC access to the market: s 792E.
  5. ASX can "refer" matters to ASIC for further investigation.
  6. ASX must lodge an annual compliance report with ASIC.
  7. ASX's Operating Rules are binding in contract.
  8. ASX's Operating Rules are approved ("not disallowed") by the Minister (the government).
  9. ASIC has oversight of the market.
  10. ASX's Operating Rules are enforceable by ASIC, the market licensee, clearing house or "a person aggrieved".
  11. The Minister can give directions to ASX.
  12. The Minister can call for report on specified matters regarding ASX.
  13. ASIC can assess ASX's compliance with the law.
  14. ASIC can give ASX directions for an orderly market.
  15. ASIC may impose conditions in ASX's Australian Market Licence.
  16. Because ASX is a public company listed on ASX, ASIC regulates ASX.
  17. There are limits on the control of ASX (max 15% ownership by one person).
  18. ASX incorporation a subsidiary — ASX Supervisory Review Pty Ltd - to enhance the transparency and accountability of its supervisory activities.
  19. The ASX Constitution includes the obligation to comply with Listing Rules.
  20. ASIC can investigate ASX.

SEATS

As of 2 October 2006 the SEATS method of matching trades on the ASX has been superseded and replaced by the Click-XT system, also known as the Integrated Trading System (ITS). The Integrated Trading System provides new opportunities for contingent trading and new order types, can process more transactions per second than SEATS, and allows multi-order transactions (up to 5 orders per transaction). October 2 is the 275th day (276th in leap years) of the year in the Gregorian calendar, with 90 days remaining. ... For the Manfred Mann album, see 2006 (album). ...


Trading of shares, warrants, fixed-interest securities and company-issued options and rights is conducted on SEATS, the Stock Exchange Automated Trading System. SEATS is an all-electronic order matching system, based on time and price priority. Two types of orders are accepted, An order in a market such as a stock market, bond market or commodities market is an instruction from a customer to a broker to buy or sell on the exchange. ...

  • Market order, to buy or sell at market.
  • Limit order, to buy at no more than a given price, or to sell at no less than a given price.

Limit orders are the most common. Limit orders not immediately filled are held in the system to be matched against a later order. Such orders remain until a specified expiry date or until cancelled. The exchange automatically cancels orders when a stock goes ex-dividend or ex other entitlements. Assume a company is paying out a big dividend to its stockholders. ...


There is a minimum price unit for quotations and trades in the system. The creates a minimum spread of that amount between the limit orders of buyers and sellers sitting in the market. For interest rate market securities (below), except redeemable preference shares, the minimum unit is 0.1 cent. For other securities the unit is based on the share price, [2] The bid/offer spread is the difference between the buying (bid) and selling (offer) price of the same stock or currency transaction. ...

Share price Minimum step
< 10 cents 0.1 cent
10 cents–$2 0.5 cent
$2–$1000 1 cent
> $1000 $1

The market depth, ie. the set of limit orders held in the market, is shown to all participants. Brokers generally provide this to clients at no extra charge. Market depth shows the quantity of shares bid or offered; except that large orders can optionally have some or all undisclosed. An undisclosed part must be at least $200,000 worth, other participants see it only as "/u". When an order is matched the undisclosed part is reduced first, and once it falls below $200,000 worth the full quantity is disclosed.


Because the system is all-electronic, the delays in entering orders into the system are minimal. Internet-based brokers generally pass client orders straight into the system, with no processing beyond a credit check (this is called Automated Client Order Processing).


Each day's trading begins with a pre-open auction. From 7:00am to 10:00am limit orders may be entered, but are not matched. Then at the open (staggered times from 10:00am to 10:09am according to stock code) the market is uncrossed by establishing an opening price that maximizes the volume transacted. All matches made get that same opening price. A pre-close auction from 4:00pm to 4:10pm establishes a closing price similarly.


There are no market makers or specialists for ordinary shares, transactions are made directly between investors. For warrants (see below) the issuer is required to maintain a bid in the system. A market maker is a person or a firm which quotes a buy and sell price in a financial instrument or commodity hoping to make a profit on the turn or the bid/offer spread. ...


There are no stop loss orders in SEATS. But anyone may of course monitor prices and enter an order on seeing particular price action. In 2003 two online discount brokers Commonwealth Securities and E*Trade Australia introduced conditional orders, which implemented automated stop loss and buy stop. A stop loss order is an order given to a broker to to sell a security when it reaches a certain price. ... wikify-date|September 2006}} Commonwealth Securities is a discount stockbroking firm operated by the Commonwealth Bank of Australia, one of Australias top four banks. ...


Settlement

Investors hold shares in one of two forms. Both operate with bank-account style holding statements rather than share certificates.

  • Issuer sponsored. The company's share register administers the investor's holding and issues them with a Shareholder Registration Number (SRN) which may be quoted when selling.
  • Broker sponsored. The investors sharebroker sponsors the client into CHESS, the Clearing House Electronic Subregister System. The investor is given a Holder Identification Number (HIN) and monthly statements are sent to the investor from the CHESS system.

Holdings may be moved from issuer sponsored to broker sponsored or between different brokers on request. For more on CHESS see Australian Clearing House and Electronic Sub-register System. The Australian Clearing House and Electronic Sub-register System (commonly abbreviated to CHESS) is an electronic book-entry register of holdings of approved securities that facilitates the transfer and settlement of market transactions between ASX and Transfer Corporation Pty Ltd (ASTC, the operator of the CHESS system) and its participants. ...


Short selling

Short selling of shares is permitted on the ASX, but only among designated stocks and with certain conditions, In finance, short selling or shorting is a way to profit from the decline in price of a security, such as stock or a bond. ...

  • The sell order must be at a price not lower than the last trade.
  • 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 don't offer short selling to small private investors. LEPOs (below) can serve as an equivalent. Contracts for difference offered by third party providers are another alternative. Some CFD providers enter orders directly into the SEATS system (instead of making a synthetic market), giving investors the equivalent of exchange trading. A contract for difference (or CFD) is a contract between two parties, buyer and seller, stipulating that the seller will pay to the buyer the difference between the current value of an asset and its value at contract time. ...


Options

Options over leading shares are traded on the ASX, with standardized 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's 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 (ie. buy) and write (ie. sell) options. For written positions the client must put up margin. The term margin has many meanings: In telecommunication, margin has the following meanings: In communications systems, the maximum degree of signal distortion that can be tolerated without affecting the restitution, without its being interpreted incorrectly by the decision circuit. ...


Warrants

Warrants on the ASX are options over a company's shares issued by a third party. Issuers are usually investment banks or large stockbrokers. The issuer decides terms for an issue based on what it thinks market participants might be interested in buying. On exercise the warrant holder transacts directly with the issuer (there's no separate clearing house for that). Warrants come in the following types, suitable either as trading vehicles like options above, or as longer term investments. An option contract is an agreement in which the buyer (holder) has the right (but not the obligation) to exercise by buying or selling an asset at a set price (strike price) on (European style option) or before (American style option) a future date (the exercise date or expiration); and... To meet Wikipedias quality standards, this article or section may require cleanup. ... Stock brokers are people who deal with stock & bonds. ...

  • Trading warrants: Calls or puts with various exercise style, expiry date, and contract size (ie. how many warrants correspond to one share). Issuers assess market demand to decide what sets of terms they will offer.
  • Knockout warrants: Like trading warrants, but starting in-the-money and terminating (ie. knocked-out) if the share price touches the strike (falls to the strike for a call, rises to it for a put).
  • Installment warrants: Call options with a final additional payment to be made on exercise. The final payment is in effect a loan by the issuer. The warrant holder receives dividends and has voting rights in the underlying shares.
  • Endowment warrants: Call options with long-dated expiry and varying exercise price. The exercise price represents an outstanding amount to pay. It's reduced by dividends and increased by ongoing interest fees. The idea is the warrant holder pays say half the share price up front (as the premium), and the dividends then pay off the rest over say 10 years. If the dividends pay off the balance sooner then the warrant holder receives fully paid shares at that time.
  • Perth mint gold: Call warrants of low exercise price over spot gold, issued by the Perth Mint. These work like an unleveraged long position in gold.

Warrants are traded on the SEATS system (see above) the same as shares. The issuer makes a market in their warrants by providing at least a bid for the life of the warrant. Due to the leverage, brokers must get a separate client agreement before the client can trade warrants. The spot price of a commodity or a security or a currency is the price that is quoted for settlement (payment and delivery) of the transaction immediately. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... Perth Mint The Perth Mint is Australias oldest operating Mint. ...


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 means they cannot be exercised until expiry, the premium is practically the whole share price, and a trader only posts margin, not the full price. In finance, a futures contract is a standardized contract, traded on a futures exchange, to buy or sell a certain underlying instrument at a certain date in the future, at a specified 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. The Sydney Futures Exchange (SFE) is both a futures exchange and options exchange located in Australia. ...


Interest rate market

The interest rate market on the ASX is the set of corporate bonds, floating rate notes, and bond-like preference shares listed on the exchange. Those securities are all traded and settled the same as ordinary shares, but the ASX provides information such as their maturity, effective interest rate, etc, to aid comparison.


Some IRM securities in recent times have had cute acronyms. For instance Santos Limited, an oil and gas producer, issued converting preference shares called FUELS (Franked Unsecured Equity Listed Securities), and the Commonwealth Bank issued floating rate notes called PERLS (Preferred Exchangeable Resettable Listed Shares). Clearly a case of investment bankers having too much time on their hands! Santos Ltd. ... The Commonwealth Bank of Australia (commonly just the Commonwealth Bank) is the second largest bank in Australia, after the National Australia Bank. ...


Schools' Sharemarket Game

ASX provides school students the opportunity to hypothetically invest $50,000 into the stock exchange, and track its progress over several months. It allows students to buy and sell normally using rates from the current share prices.


Futures

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. Lightning strikes during a night-time thunderstorm. ... Long and short hair wool at the South Central Family Farm Research Center in Boonesville, Arizona Wool is the fibre derived from the fur of animals of the Caprinae family, principally sheep, but the hair of certain species of other mammals such as goats, alpacas, llamas and rabbits may also...


Futures are traded on DTP, the Derivatives Trading Platform (also known as CLICK).


See also

This is a list of stock exchanges. ... // Montreal Exchange Winnipeg Commodity Exchange Chicago Board Options Exchange (CBOE) Chicago Board of Trade (CBOT) Chicago Butter and Egg Board, precursor to the Chicago Mercantile Exchange (CME) Chicago Climate Exchange Chicago Mercantile Exchange (CME) Commodity Exchange (COMEX), now a division of NYMEX Intercontinental Exchange (ICE) International Monetary Market (IMM), part... The Sydney Futures Exchange (SFE) is both a futures exchange and options exchange located in Australia. ...

References

  1. ^ ASX Market phases. Australian Stock Exchange. Retrieved on 2006-07-17.
  2. ^ History of ASX. Australian Stock Exchange. Retrieved on 2006-07-24.
  3. ^ SFE Ltd v ASX Ltd. Federal Court of Australia. Retrieved on 2006-07-24.
  4. ^ SFE Ltd v ASX Ltd and ASC (Intervener). Federal Court of Australia. Retrieved on 2006-07-24.

For the Manfred Mann album, see 2006 (album). ... July 17 is the 198th day (199th in leap years) of the year in the Gregorian calendar, with 167 days remaining. ... For the Manfred Mann album, see 2006 (album). ... July 24 is the 205th day (206th in leap years) of the year in the Gregorian calendar, with 160 days remaining. ... In Melbourne, the Federal Court is housed with other federal courts such as the High Court and the Federal Magistrates Court in the Federal Court Building on the corner of La Trobe Street and William Street The Federal Court of Australia is the Australian court in which most civil disputes... For the Manfred Mann album, see 2006 (album). ... July 24 is the 205th day (206th in leap years) of the year in the Gregorian calendar, with 160 days remaining. ... In Melbourne, the Federal Court is housed with other federal courts such as the High Court and the Federal Magistrates Court in the Federal Court Building on the corner of La Trobe Street and William Street The Federal Court of Australia is the Australian court in which most civil disputes... For the Manfred Mann album, see 2006 (album). ... July 24 is the 205th day (206th in leap years) of the year in the Gregorian calendar, with 160 days remaining. ...

External links

  • Australian Securities Exchange web site
  • ASX Fact File 2005

  Results from FactBites:
 
Australian Stock Exchange (452 words)
It is run and updated by a team of Australian Stock Market enthusiasts and was designed as a directory and information source for new investors and old, looking for information and tools to help them better their profits from the Stock Market.
The Stock Exchange started off as individual exchanges in different states which were established as far back as 1871.
Trading on the stock exchange is all electronic not like in days gone buy where it was all manual and left up to humans.
  More results at FactBites »

 
 

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