The ASX as we know it today was created in July 2006, via a merger of the Australian Stock Exchange and the Sydney Futures Exchange. The acronym stands for ‘Australian Securities Exchange’, and ASX is how it has been best known ever since its creation.
The story of the ASX, however, started long before the merger. The Australian Stock Exchange Limited was founded in 1987, when Australian Parliament enabled six independent state-based stock exchanges to amalgamate into a single national entity.
“Each of those exchanges brought with it a history of share trading and exchange services dating back to the 19th century,” the ASX says of its history, noting that throughout the 1920s, Sydney’s first radio station would broadcast the Sydney Stock Exchange calls twice a day.
A century on from those radio calls and, thanks to the digitalisation of our world, the ASX is now updated consistently throughout market trading hours, which occurs daily from 10am to 4pm (AEST time).
At the time of writing, the ASX has a market capitalisation of $2.3 trillion and is one of the world’s top 10 listed exchange groups.
However, in a single day of trading, the ASX can fluctuate heavily depending on a multitude of factors in both the international and local economy–such as rate rises.
With such constant change, investing in the ASX is a personal decision that should only be made after careful consideration of one’s investment knowledge, risk appetite and financial position.
Related: Best ‘Safe Haven’ Investments for Australians
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