ASX - Australian Securities Exchange

The Australian Securities Exchange was previously known as the Australian Stock Exchange, and changed their name in December 2006, but is still referred to as ASX. It is ranked the 8th largest stock exchange in the world, and has listings of approximately 2 000 stock and there is about 99 300 trade transactions that move through the ASX in a day. Trading floors are no longer in use at the Australian Securities Exchange as it was replaced by a system know as SEATS, meaning Stock Exchange Automated Trading System. SEATS accommodated lower broker fees. Recently this system was upgraded to the Click XT system. Commonly known as the ITS or Integrated Trading System, can process orders faster than SEATS, and is also able to process multiple orders at a time. BHP Billiton, producer of coal, diamonds, petroleum and iron, is the largest stock that is available on the exchange. The ASX is also listed on the exchange, as it is a public company. Amongst the hundreds of companies on the listings, are companies such as Access Providers Ltd, KH Foods Limited, Pacific Mining, Salmat Ltd and Volant Petroleum Ltd.

The Australian economy is very competitive and open, and is ranked amongst the strongest economies in the world. Effective management of the economy and continuous reform of structures ensures that Australia economy maintains its performance level. Another attribute to the strong economy is the capability of low inflations that has been stable for years. The most competitive industries in Australia are the electricity, transport, gas and telecommunications sectors. The open economy also provides low trade barriers and an accommodating tax system, in regard to business. Skilled labor and a flexible market, fuels the economic growth and supports the employment sector.

Australia is the worlds’ leader in the export of beef and veal. Dairy product exports ranks Australia as the third largest, in the export of these products worldwide. They also export great numbers of wool, grains, cotton, sugar, vegetables and fruit. Thailand, Korea, China and Japan are Australia’s biggest buyers of cotton. The export from the food industry, accounts for a large percentage of Australia’s annual retail turnover.

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