The Australian Securities Exchange (ASX) is the continent's leading stock exchange and one of the world's top 20 exchanges based on market capitalization. It is the largest exchange in Australia and one of the country's main sources of stock market liquidity. The bourse operates both a primary and secondary securities market, where companies and investors trade securities, including shares, derivatives, and exchange-traded funds (ETFs).

ASX was established in 1987 to replace the six regional exchanges that were operating at the time. The newly formed ASX was Australia's first, and the world's fourth, demutualized exchange, and it quickly became a leader in developing innovative products and services. Today, it is the largest stock exchange in Australia and one of the top 20 in the world based on market capitalization.

The exchange is regulated by the Australian Securities and Investment Commission (ASIC). ASX's regulations promote fairness and transparency, and the exchange's compliance team monitors the trading of each security to ensure proper trading practices and compliance with the law. It also ensures that companies meet its listing rules, which are designed to protect investors by requiring companies to provide clear and concise information about the business to potential investors.

ASX offers the trading of a wide variety of securities, including shares, derivatives, debt securities, ETFs, and bond ETFs. It also provides an array of services such as capital raising, listing, market news and data, along with corporate and investor relations. Companies must meet strict criteria to be listed on the ASX, including having a minimum market capitalization, minimum number of shareholders, and being a compliant and active securities issuer.

The exchange also has a Clearing House Electronic Subregister System (CHESS), which documents and records the transfer of securities. CHESS allows traders to buy and sell stocks electronically. To add an extra layer of security, ASX assigns a market price range to each security and monitors to ensure that all securities trade at or better than these prices. This ensures that all trades are fair and equitable, and the investor pays an appropriate price for the security.

In addition, ASX also offers online trading platforms for novice investors, such as its Share Investing platform, which offers access to numerous markets within Australia and provides educational resources to help them make informed decisions.

The Australian Securities Exchange (ASX) is an extremely important and influential contributor to the Australian market and economy, providing renewable resources and fuel for continued growth and prosperity. Its products and services offer investors a safe and reliable platform for investing in a diverse range of securities, making it a great place for individuals and institutions to build their portfolios.