On 1 August 2010, ASX launched a new brand and group structure. ASX Group became the overarching name, replacing Australian Securities Exchange, which remains as the name of the listings and trading arm of the ASX Group.
ASX functions as a market operator, clearing house and payments system facilitator. It oversees compliance with its operating rules, promotes standards of corporate governance among Australia’s listed companies. It has a role in the education of retail investors, providing educational materials relating to its products including free online courses.
ASX offers products and services including shares; futures, exchange traded options, warrants, contracts for difference, exchange traded funds, real estate investment trusts, listed investment companies and interest rate securities.
The biggest stocks traded on the ASX, in terms of their market capitalisation, include BHP Billiton, Commonwealth Bank of Australia, Westpac, Telstra Corporation, Rio Tinto, National Australia Bank and Australia and New Zealand Banking Group. As at March 2010 the three largest sectors by market capitalisation were financial (36%), metal and mining (22%) and consumer (13%).
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. Other indices for the bigger stocks are the S&P/ASX 100 and S&P/ASX 50.
The current Managing Director and CEO, Mr Elmer Funke Kupper, was appointed in October 2011. Prior to joining ASX he was Managing Director and CEO of Tabcorp from September 2007 to June 2011.