Definitions
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- proper noun Australia Initialism of
Australian Stock Exchange .
Etymologies
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Examples
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I think the ASX is fundamentally Australian and it should stay here, Mr. Crook said.
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I think the ASX is too fundamentally important to our economy and to our sovereignty, Mr. Wilkie said.
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The Australian Treasury and the relevant ministers would have to approve the acquisition of more than a 15% stake in ASX by any entity, another person said.
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Mr. Bocker said his company's proposed deal to buy ASX is a "question of staying relevant in a very rapid [ly] changing market."
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In Australia, ASX is on the verge of losing its monopoly status as Chi-X Global Inc. is expected to gain clearance to form its own rival exchange possibly as early as the first quarter of 2011.
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The opening of Chi-X came after months of preparation from the exchange and brokers, and as part of a government move to promote competition in the country's financial markets, where the ASX has been the country's only stock exchange.
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In the most recent financial year, the ASX was the subject of a takeover offer by Singapore Exchange Ltd., but the Australian government ended up blocking the bid, saying the deal offered little for the nation and raised the risk of the country losing control of its clearing and settlement systems.
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The more pressing question is the statutory 15% cap on any single ownership stake in ASX, which is more likely to scuttle the SGX takeover attempt.
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Meanwhile, the main threat to the ASX is the light volume in equities trading.
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Earlier this year, Chi-X received a tentative go-ahead from the government to operate as part of a policy to promote competition in the country's financial markets, where the ASX has been the country's only stock exchange.
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