The Australian Stock Exchange (ASX) is the 11th largest stock market in the world, and the second largest in the Asia-Pacific region, on the basis of domestic capitalization. Beginning as a local market, it has grown to become bigger and internationalized to serve foreign customers. Today, the ASX operates one of the largest equity options markets in the world based on contract value and a rapidly growing warrants market.
The ASX was formed in 1987 through the amalgamation of the six independent stock exchanges then operating throughout Australia. This, in effect, created one national market and one body to govern stock market trading throughout the country.
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