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39-637: Atlas was listed on the Australian Securities Exchange on the 17 December 2004, under the name of Atlas Gold Limited. On 30 March 2006, the company changed its name to Atlas Iron Limited. The shares were traded under the AGO code. Atlas became Australia's newest iron ore producer when it commenced production at Pardoo in late 2008. The company plans to lift production from its Pilbara operations to 12 million tonnes of iron ore by 2014. Of these, 10 million tonnes are scheduled to come from

78-484: A call system, where an exchange employee called the names of each company and brokers bid or offered on each. In the 1960s this changed to a post system. Exchange employees called "chalkies" wrote bids and offers in chalk on blackboards continuously, and recorded transactions made. The ASX (Australian Stock Exchange Limited) was formed in 1987 by legislation of the Australian Parliament which enabled

117-427: A company has 4 million common shares outstanding and the closing price per share is $ 20, its market capitalization is then $ 80 million. If the closing price per share rises to $ 21, the market cap becomes $ 84 million. If it drops to $ 19 per share, the market cap falls to $ 76 million. This is in contrast to mercantile pricing where purchase price, average price and sale price may differ due to transaction costs. Not all of

156-473: A single contract of greasy wool that by the end of the year had traded 19,042 lots. 1969–1970 : The Poseidon bubble (a mining boom triggered by a nickel discovery in Western Australia) caused Australian mining shares to soar and then crash, prompting regulatory recommendations that ultimately led to Australia's national companies and securities legislation. 1976 : The Australian Options Market

195-503: A value called the embedded value (EV) has been used. It is also used in ranking the relative size of stock exchanges , being a measure of the sum of the market capitalizations of all companies listed on each stock exchange. The total capitalization of stock markets or economic regions may be compared with other economic indicators (e.g. the Buffett indicator ). The total market capitalization of all publicly traded companies in 2023

234-687: Is a NASDAQ OMX ultra-low latency trading platform based on NASDAQ OMX's Genium INET system, which is used by many exchanges around the world. It is one of the fastest and most functional multi-asset trading platforms in the world, delivering latency down to ~250 microseconds. ASX Trade24 is ASX global trading platform for derivatives. It is globally distributed with network access points (gateways) located in Chicago, New York, London, Hong Kong, Singapore, Sydney and Melbourne. It also allows for true 24-hour trading, and simultaneously maintains two active trading days which enables products to be opened for trading in

273-482: Is a pre-market session from 7:00   am to 10:00   am Sydney time and a normal trading session from 10:00   am to 4:00   pm Sydney time. The market opens alphabetically in Single-price auctions , phased over the first ten minutes, with a small random time built in to prevent exact prediction of the first trades. There is also a single-price auction between 4:10   pm and 4:12   pm to set

312-478: Is sometimes heard. Large caps have a slow growth rate as compared to small caps. Different numbers are used by different indexes; there is no official definition of, or full consensus agreement about, the exact cutoff values. The cutoffs may be defined as percentiles rather than in nominal dollars . The definitions expressed in nominal dollars need to be adjusted over decades due to inflation , population change, and overall market valuation (for example, $ 1 billion

351-403: Is sometimes used to rank the size of companies. It measures only the equity component of a company's capital structure , and does not reflect management's decision as to how much debt (or leverage ) is used to finance the firm. A more comprehensive measure of a firm's size is enterprise value (EV), which gives effect to outstanding debt, preferred stock, and other factors. For insurance firms,

390-501: The 2007–2008 financial crisis . The ban on covered short selling was lifted in May 2009. Market capitalisation Market capitalization , sometimes referred to as market cap , is the total value of a publicly traded company 's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by the number of common shares outstanding. Market capitalization

429-559: The Sydney Stock Exchange , a separate entity). The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with the Sydney Futures Exchange in 2006. Today, ASX has an average daily turnover of A$ 4.685  billion and a market capitalisation of around A$ 1.6  trillion , making it one of

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468-541: The world's top 20 listed exchange groups, and the largest in the southern hemisphere. ASX Clear is the clearing house for all shares, structured products, warrants and ASX Equity Derivatives. ASX Group is a market operator, clearing house and payments system facilitator. It also oversees compliance with its operating rules, promotes standards of corporate governance among Australia's listed companies and helps to educate retail investors. The Australian Securities & Investments Commission (ASIC) has responsibility for

507-602: The ASX could not offer them. The court held they were options and so LEPOs were introduced in 1995. 1995 : Stamp duty on share transactions was halved from 0.3% to 0.15%. The ASX had agreed with the Queensland State Government to locate staff in Brisbane in exchange for the stamp duty reduction there, and the other states followed suit so as not to lose brokerage business to Queensland. In 2000 stamp duty

546-614: The ASX in 1998. 2000 : In October, ASX acquires a 15% stake in the trading and order management software company IRESS (formerly BridgeDFS Ltd). 2001 : Stamp duty on marketable securities abolished. 2006 : The ASX announced a merger with the Sydney Futures Exchange, the primary derivatives exchange in Australia. ASX Group has two trading platforms – ASX Trade, which facilitates the trading of ASX equity securities and ASX Trade24 for derivative securities trading. All ASX equity securities are traded on screen on ASX Trade. ASX Trade

585-441: The ASX operating rules. The Reserve Bank of Australia (RBA) has oversight of the ASX's clearing and settlement facilities for financial system stability. Products and services available for trading on ASX include 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

624-567: The ASX, in terms of market capitalisation , include BHP , Commonwealth Bank , Westpac , Telstra , Rio Tinto , National Australia Bank and Australia & New Zealand Banking Group . 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

663-665: The Hobart exchange. In November 1903 the first interstate conference was held to coincide with the Melbourne Cup . The exchanges then met on an informal basis until 1937 when the Australian Associated Stock Exchanges (AASE) was established, with representatives from each exchange. Over time the AASE established uniform listing rules, broker rules, and commission rates. Trading was conducted by

702-569: The Stock Exchange Automated Trading System (SEATS). It was a far cry from the original system which dated back over 100 years. During that time there had been three different forms of trading on the Australian stock exchanges. The earliest was the auction-based call system, which saw a stock exchange employee (the caller) call the name of each listed security in turn while members bid, offered, sold or bought

741-813: The Sydney Stock Exchange. 1885 : Two years after the Broken Hill Mining Company (private company) was established by a syndicate of seven men from the Mount Gipps Station , the company was incorporated to become the Broken Hill Proprietary Company Limited (BHP). In 1885, BHP listed on the Melbourne Stock Exchange. 1937 : The Australian Associated Stock Exchanges (AASE) was established in 1937. Since 1903

780-485: The amalgamation of six independent stock exchanges that formerly operated in the state capital cities. After demutualisation , the ASX was the first exchange in the world to have its shares quoted on its own market. The ASX was listed on 14 October 1998. On 7 July 2006 the Australian Stock Exchange merged with SFE Corporation, holding company for the Sydney Futures Exchange. 1861 : Ten years after

819-607: The bigger stocks are the S&P/ASX 100 and S&P/ASX 50 . The origins of the ASX date back to the mid-1800s when six separate exchanges were established in Australia's state capital cities of Melbourne , Victoria, (1861), Sydney , New South Wales (1871), Hobart , Tasmania (1882), Brisbane , Queensland (1884), Adelaide , South Australia (1887) and Perth , Western Australia (1889, the Stock Exchange of Perth ). A further exchange in Launceston , Tasmania, merged into

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858-770: The daily closing prices. Security holders hold shares in one of two forms, both of which operate as uncertificated holdings, rather than through the issue of physical share certificates : Holdings may be moved from issuer-sponsored to CHESS or between different brokers by electronic message initiated by the controlling participant. Short selling of shares is permitted on the ASX, but only among designated stocks and with certain conditions: Many brokers do not offer short selling to small private investors. LEPOs can serve as an equivalent, while contracts for difference (CFDs) offered by third-party providers are another alternative. In September 2008, ASIC suspended nearly all forms of short selling due to concerns about market stability during

897-417: The electronic CLICK system for derivatives began. 1998 : ASX demutualised to become a listed company. It was the first exchange in the world to demutualise and list on its own market, a trend that has been imitated by several other exchanges over the years. The Australian Mutual Provident Society began in 1849 as an organisation offering life insurance. Now known as AMP it became a publicly listed company on

936-597: The floor of the Sydney Exchange was suspended throughout Friday. Damage totaled $ 2 million and repairs took more than six months, with new carpet laid and cables and computers replaced. Stockbrokers who had taken advantage of joint access were able to trade on the Melbourne Stock Exchange. And, with the Sydney trading floor closed by floodwaters, the Melbourne Exchange enjoyed its busiest trading day for

975-466: The ground rules for commissions and the flotation of government and semi-government loan raisings. 1938 : Publication of the first share price index. 1939 : Sydney Stock Exchange closed for the first time due to the declaration of World War II . 1960 : Sydney Futures Exchange began trading as Sydney Greasy Wool Futures Exchange (SGWFE). Its original goal was to provide Australian wool traders with hedging facilities in their own country. SGWFE offered

1014-533: The later commencing mining in late February 2022. The formerly operating Pardoo , Wodgina , Abydos and Mt Dove mines have all been closed down. Australian Securities Exchange Australian Securities Exchange Ltd ( ASX ) is an Australian public company that operates Australia's primary securities exchange , the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as,

1053-523: The new Turner River hub, which is to blend and process ore from the company's northern Pilbara projects, located at Wodgina , Abydos and Mt Webber . In December 2010, Atlas Iron made a bid to buy Giralia Resources ; it may be possible to merge Atlas' Mt Webber mine with Giralia's nearby Dalton mine. Atlas entered a mine gate sale agreement with Pilbara Minerals to receive direct shipping ore from Pilgangoora in December 2017. In October 2018 Atlas

1092-531: The new trading day in one time zone while products are still trading under the previous day. The normal trading or business days of the ASX are week-days, Monday to Friday. ASX does not trade on national public holidays: New Year's Day (1 January), Australia Day (26 January, and observed on this day or the first business day after this date), Good Friday (that varies each year), Easter Monday, Anzac day (25 April), King's Birthday (June), Christmas Day (25 December) and Boxing Day (26 December). On each trading day there

1131-597: The official advent of the Gold Rush , Australia's first stock exchange was formed in Melbourne. In the 1850s Victoria was Australia's gold mining centre, its population increasing from 80,000 in 1851 to 540,000 in 1861. 1871 : Thirty years after it lit the first gas street light in Sydney, the Australian Gas Light Company took its place in history again, becoming the second company to list on

1170-513: The outstanding shares trade on the open market. The number of shares trading on the open market is called the float. It is equal to or less than N because N includes shares that are restricted from trading. The free-float market cap uses just the floating number of shares in the calculation, generally resulting in a smaller number. Traditionally, companies were divided into large-cap, mid-cap, and small-cap . The terms mega-cap and micro-cap have since come into common use, and nano-cap

1209-465: The state stock exchanges had met on an informal basis, but in 1936 Sydney took the lead in formalising the association. Initially this involved the exchanges in Adelaide, Brisbane, Hobart and Sydney. Melbourne and Perth joined soon after. Through the AASE the exchanges gradually brought in common listing requirements for companies and uniform brokerage and other rules for stockbroking firms. They also set

Atlas Iron - Misplaced Pages Continue

1248-547: The stock at each call. This system proved inadequate to handle the increased volume of trading during the mining booms. It was replaced by the 'post' system in the early 1960s, which involved stocks being quoted on 'posts' or 'boards'. 'Chalkies' were employed by the Stock Exchange and it was their function to record in chalk the bids and offers of the operators (employees of stockbrokers) and the sales made. This system stayed in place until 1987. 1990 : A warrants market

1287-443: The supervision of real-time trading on Australia's domestic licensed financial markets and the supervision of the conduct by participants (including the relationship between participants and their clients) on those markets. ASIC also supervises ASX's own compliance as a public company with ASX Listing Rules. ASX Compliance is an ASX subsidiary company that is responsible for monitoring and enforcing ASX-listed companies' compliance with

1326-465: The year. After that episode a back-up site was established outside the Sydney CBD. 1987 : The Australian Stock Exchange Limited (ASX) was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament. The formation of the national stock exchange involved the amalgamation of the six independent stock exchanges that had operated in the states' capital cities. Launch of

1365-577: Was abolished in all states as part of the introduction of the GST . 1996 : The exchange members (brokers etc.) voted to demutualise . The exchange was incorporated as ASX Limited and in 1998 the company was listed on the ASX itself, with the Australian Securities & Investments Commission enforcing the listing rules for ASX Limited. 1997 : Electronic trading commences as the option market moves from floor to screen. A phased transition to

1404-481: Was acquired by Redstone Resources, a fully owned subsidiary of Hancock Prospecting , and delisted from the Australian Securities Exchange on 21 November 2018. As of 2021, the company operates three mines, while four previously operating mines have been shut down because the resources were depleted. The operating mines are the Mt Webber mine , Sanjiv Ridge mine (formerly Corunna Downs) and Miralga Creek mine , with

1443-421: Was approximately US$ 111 trillion. Total market capitalization of all publicly traded companies in the world from 1975 to 2020. Market cap is given by the formula MC = N × P {\textstyle {\text{MC}}=N\times P} , where MC is the market capitalization, N is the number of common shares outstanding, and P is the market price per common share. For example, if

1482-497: Was established, trading call options . 1980 : The separate Melbourne and Sydney stock exchange indices were replaced by Australian Stock Exchange indices. 1984 : Brokers' commission rates were deregulated. Commissions have gradually fallen ever since, with rates today as low as 0.12% or 0.05% from discount internet-based brokers. 1984 : Sydney Stock Exchange closed due to heavy rain and flooding on 9 November 1984 with 70 millimetres of rain falling in one half-hour. All trading on

1521-702: Was established. 1993 : Fixed-interest securities were added (see Interest rate market below). Also in 1993, the FAST system of accelerated settlement was established, and the following year the CHESS system (see Settlement below) was introduced, superseding FAST. 1994 : The Sydney Futures Exchange announced trading in futures over individual ASX stocks. The ASX responded with the Low Exercise Price Option or LEPO (see below). The SFE went to court, claiming that LEPOs were futures and therefore that

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