Australian Securities Exchange

What Australian Securities Exchange does

The Australian Securities Exchange (ASX) is Australia's primary licensed securities exchange, operating integrated market infrastructure for cash equities, derivatives, debt securities, and managed funds. Founded in 1987 and headquartered at 39 Martin Place in Sydney, ASX serves approximately 2,000 listed companies, an ecosystem of broker participants, and millions of retail, SMSF, and institutional investors across Australia, New Zealand, and selected international markets. The company is publicly listed on its own exchange (ASX:ASX) and employs 501-1000 people across offices in Sydney, Melbourne, Perth, Auckland, Chicago, and Hong Kong.

ASX's core technology stack comprises ASX Trade (the lit cash equities platform), ASX Centre Point (Australia's largest anonymous mid-point matching system, which has delivered over $1.5 billion in price improvement since inception), ASX 24 (derivatives trading), ASX Clear and ASX Clear (Futures) (central counterparty clearing), ASX Settlement, CHESS (the Clearing House Electronic Subregister System), and Austraclear (debt settlement). The exchange processes more than 20 million trades per day across multiple asset classes. CHESS Release 1, delivered in April 2026 with Tata Consultancy Services using TCS BaNCS for Market Infrastructure, replaced the legacy clearing component and supports ISO 15022, ISO 20022, and FIX messaging standards; Release 2 is targeted for 2029. ASX is also upgrading the ASX 24 platform with LSEG Markets Technology throughout 2026 and participating in the RBA-led Project Acacia initiative exploring tokenised wholesale markets and digital money settlement.

ASX generates revenue through five primary streams: listing fees (initial admission plus annual fees based on market capitalisation tiers), trading and transaction fees on cash equities and derivatives, clearing and settlement fees via ASX Clear and ASX Settlement, information services (price, reference, and benchmark data subscriptions), and connectivity services (ASX Net, ASX Colo OnDemand, and the Australian Liquidity Centre). The customer base is segmented across listed companies (issuers), retail and institutional investors, ASX broker participants, investment product issuers (ETFs, structured products), and debt securities issuers. Distribution is primarily through regulated broker participants, the direct Listings sales team, and self-serve investor platforms. ASX markets its services through its website, investor education programs including the ASX Sharemarket Game, Investor Day events, webinars, and the Listed@ASX blog for issuers.

Name

Australian Securities Exchange

Legal name

ASX Operations Pty Limited

Website

https://asx.com.au

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Australian Securities Exchange (ASX) is Australia's primary licensed stock exchange, operating integrated trading, clearing, settlement, and market data infrastructure for approximately 2,000 listed companies, broker participants, and millions of investors across cash equities, derivatives, and debt markets.

Ownership category

akta.pro rank

Product category

Financial Market Infrastructure

NAICS

Securities and Commodity Exchanges (5232), Securities and Commodity Contracts Intermediation and Brokerage (5231), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Electronic Communication Networks (ECNs) & Alternative Trading Systems (ATS) — Equities (FSAFAAAD)

akta.pro secondary industries

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA), Algorithmic Trading & Execution Platforms (FSAFANAN)

Keywords

• Securities exchange services
• Clearing and settlement
• Market data services
• Listing services
• Derivatives trading

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure

Revenue model

1. Listing Fees: ASX charges companies an initial fee upon listing and annual fees while the company remains listed. These fees are based on market capitalization tiers.
2. Trading and Transaction Fees: Fees charged to participants for executing trades on ASX markets including cash equities, derivatives, and other traded products.
3. Clearing and Settlement Services: Post-trade services including clearing through ASX Clear and settlement through ASX Settlement, with fees for processing transactions.
4. Information Services: Revenue from providing price data, reference data, company news, benchmarks, and other market data products to market participants and data subscribers.
5. Connectivity Services: Colocation services (ASX Colo OnDemand), ASX Net network services, and connectivity to Australian Liquidity Centre (ALC) for market participants.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Australian Securities Exchange (ASX) operates Australia's primary securities exchange, providing trading, clearing, settlement, and market data infrastructure for cash equities, derivatives, and debt securities. ASX delivers connectivity, colocation, and information services to brokers, listed companies, and market participants, and operates the CHESS settlement system and Austraclear for fixed-income and money-market transactions.

Product overview

ASX operates as a comprehensive financial market infrastructure platform providing exchange trading, clearing, settlement, and post-trade services across multiple asset classes. The core platform consists of ASX Trade for equities execution, ASX Centre Point for dark liquidity matching, ASX 24 for derivatives trading, supported by ASX Clear and ASX Clear (Futures) for clearing services, ASX Settlement for post-trade processing, and CHESS for shareholder registry management. The ecosystem extends to Austrac for debt securities, ASX Collateral for collateral management, OTC Clearing for derivatives, ASX Energy for commodities, and mFund for managed funds. Connectivity and data services including ASX Net, ASX Colo OnDemand, and the Australian Liquidity Centre provide infrastructure access, while Information Services distribute market data, reference data, and benchmarks. Investor services round out the offering with education tools and the Sharemarket Game. The CHESS system is undergoing modernisation with TCS BaNCS infrastructure supporting Release 1 (live April 2026) and Release 2 planned for 2029.

Differentiator

Problem solved

Functional benefit

Brands

• ASX Centre Point: Australia's largest anonymous matching system offering price improvement, deep liquidity, and anonymous trading across all ASX-listed securities.
• CHESS
• ASX Trade
• ASX Clear
• ASX Settlement
• Austraclear
• ASX 24
• Australian Liquidity Centre (ALC)

Products and services

• ASX Trade
• ASX Centre Point
• ASX 24
• ASX Clear
• ASX Clear (Futures)
• ASX Settlement
• CHESS
• Austraclear
• OTC Clearing
• ASX Information Services
• ASX Net
• Australian Liquidity Centre (ALC)
• ASX Colo OnDemand
• ASX Energy
• mFund
• ASX Listing Service

Quantifiable outcome

• Over 20 million trades per day capacity
• +1 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Reserve Bank of Australia (RBA)coreStrategic or Co-development Partner · 18 May 2026Project Acacia is a joint initiative led by the RBA and Digital Finance Cooperative Research Centre exploring digital money in tokenised wholesale markets. ASX collaborated with CBA, J.P. Morgan, and HQLAX to test interoperable settlement models combining CBA Deposit Token and wholesale AUD CBDC with tokenised assets.
• Commonwealth Bank of Australia (CBA)coreStrategic or Co-development Partner · 18 May 2026CBA collaborated with ASX, J.P. Morgan, RBA, and HQLAX under Project Acacia, providing the CBA Deposit Token for testing interoperable settlement models in tokenised wholesale markets. The use case demonstrated digital currencies improving efficiency in Australia's $350 billion repo market.
• J.P. MorgancoreStrategic or Co-development Partner · 18 May 2026J.P. Morgan partnered with ASX, CBA, RBA, and HQLAX under Project Acacia to test digital money in tokenised wholesale markets, demonstrating how digital currencies and collateral records can improve efficiency in Australia's financial markets.
• HQLAXcoreTechnology or Integration · 18 May 2026HQLAX provided its collateral management platform for Project Acacia, enabling tokenised assets orchestration and demonstrating interoperable settlement models combining digital currencies with tokenised assets in Australia's wholesale markets.
• Tata Consultancy Services (TCS)coreTechnology or Integration · 28 April 2026TCS has successfully delivered Release 1 of ASX's CHESS program, implementing TCS BaNCS for Market Infrastructure and Quartz Gateway solutions. The cloud-hosted clearing component processes over 20 million trades per day across multiple asset classes, compliant with ISO 15022, ISO 20022, and FIX messaging standards. Release 2 is targeted for go-live in 2029.
• LSEG (London Stock Exchange Group)coreTechnology or Integration · 4 March 2026ASX and LSEG have entered into an agreement for LSEG Markets Technology to upgrade ASX 24's trading platform with a high-performance, low-latency system focused on resilience and reduced operational risk. The upgrade aims to support ASX 24's future growth, product innovation, and derivatives trading needs with implementation throughout 2026.
• Digital Finance Cooperative Research Centre (DFCRC)minorStrategic or Co-development PartnerDFCRC collaborated with RBA on Project Acacia exploring digital money in tokenised wholesale markets, and produced research estimating A$24 billion annual opportunity for Australia from digital assets and tokenized finance.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Regional players

• TMX Group: TMX operates the Toronto Stock Exchange, TSX Venture Exchange, and Canadian derivatives (BOX, MX). Comparable to ASX as a mid-sized developed-market integrated exchange operator with cash equities + derivatives + clearing and a similar resource-heavy issuer base.
• Japan Exchange Group (JPX): JPX operates the Tokyo Stock Exchange plus Osaka Exchange derivatives. Comparable to ASX as a major Asia-Pacific regional exchange with cash equities, derivatives, and clearing/settlement; serves a different primary geography but parallels ASX's role in its home market.

Broad incumbents

• Deutsche Börse AG: Deutsche Börse operates the Frankfurt Stock Exchange plus Eurex derivatives and Clearstream post-trade services. Comparable to ASX through parallel cash equities + derivatives + post-trade (clearing/settlement) integrated model serving a developed market.
• Nasdaq, Inc. Nasdaq operates major equity exchanges, clearing, and a large global technology and data franchise. Comparable to ASX as a diversified exchange operator with parallel product mix (cash equities, derivatives, market data, connectivity) and similar revenue stream diversification.
• Intercontinental Exchange (ICE): ICE operates global exchanges, clearing houses, and data services across commodities, equities, and credit. Comparable to ASX through its exchange operator + clearing house + data services integrated model, and through derivative-market exposure that parallels ASX 24.
• Cboe Global Markets: Cboe operates multiple global equities, derivatives, and FX exchanges and clearing services. Comparable to ASX through derivatives market exposure (parallel to ASX 24), listing/issuer services, and US/global market data distribution.
• London Stock Exchange Group (LSEG): LSEG operates the London Stock Exchange plus FTSE Russell indices, Refinitiv data, and post-trade services. Comparable to ASX as a vertically integrated exchange operator with global technology reach; LSEG is also ASX's technology partner for the ASX 24 upgrade, reinforcing functional comparability.

Direct peers

• Hong Kong Exchanges and Clearing (HKEX): HKEX operates cash equities, derivatives, commodities, and clearing/settlement services across Greater China. Comparable to ASX as a vertically integrated exchange group with similar product breadth (cash, derivatives, clearing, settlement) and similar mid-sized Asia-Pacific market footprint.
• Singapore Exchange (SGX): SGX operates securities and derivatives trading across multiple asset classes in the Asia-Pacific region. Comparable to ASX as a regional exchange operator serving a similar mid-sized developed market with integrated trading, clearing, and settlement infrastructure.
• NZX (New Zealand Exchange): NZX operates New Zealand's primary securities exchange offering equities, derivatives, and dairy derivatives markets. Most directly comparable peer given geographic proximity (ASX operates an Auckland office serving NZ listings) and similar market structure focused on a small developed economy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ASX
• YouTubeyoutube.com/@ASX
• LinkedInlinkedin.com/company/asx
• Facebookfacebook.com/OfficialASX

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Australian Securities Exchange