ASX

What ASX does

ASX (Australian Securities Exchange, ASX Limited) operates Australia's primary securities exchange and is the country's vertically-integrated provider of exchange trading, central-counterparty clearing, settlement, and market-data infrastructure for cash equities, derivatives, and debt securities. The technology stack is anchored by ASX Trade (cash equities and derivatives trading), ASX Clear and ASX Clear (Futures) (CCP clearing), ASX Settlement and the Clearing House Electronic Subregister System (CHESS) for equities settlement, and Austraclear for debt securities settlement, all supported by connectivity services — ASX Net, the Australian Liquidity Centre data centre, and ASX Colo OnDemand colocation. ASX controls the full trade lifecycle from execution through settlement, including collateral management and OTC clearing.

The business generates revenue across six streams: listing fees (tiered by market capitalisation, with annual recurring components), transaction-based trading and clearing/settlement fees, subscription-based information services (price, reference, news, benchmarks, energy, debt data), connectivity subscriptions (colocation, network), and issuer/professional services (CHESS Depositary Nominees, investor engagement). The company serves four primary customer segments: issuers/listed companies (2,000+ entities across 70+ industries and 40 countries), investors/CHESS holders, market participants (brokers), and investment-product issuers — with international company recruitment handled through offices in Auckland, Chicago, and Hong Kong.

ASX was formed in its current ASX Group structure in 2006 through the merger of the Australian Stock Exchange and the Sydney Futures Exchange; ASX Limited is itself publicly listed on its own exchange under ticker ASX. The exchange hosts an outsized resources sector (860+ resource companies across 85+ countries, representing 32% of market capitalisation), maintains three ongoing infrastructure modernization programs (CHESS replacement on DLT, ASX 24 platform replacement, trading-platforms network replacement), and is regulated by ASIC and the Reserve Bank of Australia. ASX has ranked first globally by volume of follow-on transactions for seven consecutive years and added A$514 billion in net new capital to its listed market over the past nine years.

Name

ASX

Legal name

ASX Limited

Website

https://asx.com.au

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ASX operates Australia's primary securities exchange, providing trading, clearing, settlement, and market-data infrastructure for 2,000+ listed companies across cash equities, derivatives, and debt securities, serving issuers, investors, brokers, and product issuers domestically and internationally.

Ownership category

akta.pro rank

Product category

Securities Exchange Services

NAICS

Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Commodity Contracts Intermediation (52316), Investment Banking and Securities Intermediation (52315)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

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

akta.pro secondary industry

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)

Keywords

• Stock exchange services
• Clearing and settlement
• Market data services
• Securities trading platform
• Exchange traded products

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, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Listing Fees: Fees charged to companies for listing on ASX, including initial listing fees and annual listing fees.
2. Trading and Transaction Fees: Fees charged to market participants for executing trades on ASX markets including cash equities and derivatives.
3. Clearing and Settlement Services: Fees for central counterparty clearing and settlement of trades through ASX Clear and ASX Settlement facilities.
4. Information Services: Revenue from providing market data, price data, reference data, benchmarks, company news, and analytics to market participants and data subscribers.
5. Connectivity Services: Fees for colocation services (ASX Colo OnDemand), network connectivity (ASX Net), and access to data centres.
6. Issuer Services: Fees for issuer services including CHESS Depositary Nominees, investor engagement programs, and listed company tools.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

ASX operates Australia's primary securities exchange, providing trading platforms for cash equities and derivatives, central counterparty clearing services, settlement infrastructure (CHESS and Austraclear), market data products, and connectivity services. It serves over 2,000 listed entities from more than 70 industries and 40 countries, generating revenue through listing fees, transaction fees, clearing/settlement fees, information services, and connectivity services.

Product overview

ASX (Australian Securities Exchange) operates as Australia's primary securities exchange offering a comprehensive financial markets ecosystem. The platform architecture consists of core trading infrastructure (ASX Trade), post-trade clearing services (ASX Clear, ASX Clear Futures), settlement systems (ASX Settlement, CHESS, Austraclear), and connectivity infrastructure (ASX Net, Australian Liquidity Centre, ASX Colo OnDemand). Information services include market data platforms (ASX Energy, ASX Grains Market View), while customer-facing portals (ASX Online, ASX CHESS Statements Portal) support market participants, issuers, and investors. ASX supports over 2,000 listed entities across cash equities, derivatives, and investment products including ETFs, managed funds, and warrants. Additional services include collateral management (ASX Collateral), OTC clearing, and Listed Company Services for issuer support. The exchange also provides educational tools such as the ASX Schools Sharemarket Game and publishes market insights through Listed@ASX.

Differentiator

Problem solved

Functional benefit

Products and services

• ASX Trade ASX's primary trading platform for cash equities and derivatives markets, providing real-time market access and trade execution services for market participants.
• ASX Clear Central counterparty clearing house for ASX cash markets, providing post-trade clearing services including novation and risk management for cash equities.
• ASX Clear (Futures) Central counterparty clearing facility for ASX 24 derivatives markets, providing clearing and risk management for futures and options contracts.
• ASX Settlement Settlement service that interfaces with CHESS to provide trade settlement and holder registration services for ASX-listed securities.
• CHESS (Clearing House Electronic Subregister System) ASX's electronic system for tracking investor holdings and personal details, maintaining the register of CHESS holdings and generating holding statements and notifications.
• Austraclear Electronic securities settlement system for debt securities, providing registration and settlement services for fixed income products and certificates of deposit.
• ASX Colo OnDemand Colocation infrastructure-as-a-service solution providing direct access to ASX trading infrastructure from Australia's financial markets hub.
• Australian Liquidity Centre (ALC) Purpose-built data centre facility at Gore Hill, Sydney, housing ASX trading infrastructure and enabling co-location services for market participants.
• ASX Net Secure private network connecting ASX participants to trading, clearing, and settlement systems with low-latency connectivity.
• ASX Energy Energy market data and trading platform providing access to electricity and gas derivatives pricing and trading capabilities.
• ASX Grains Market View Grain market data platform providing pricing information and market insights for agricultural commodities.
• ClearStar Program Risk management and margining service for over-the-counter (OTC) derivatives, providing centralized counterparty risk reduction.
• ASX Collateral Collateral management services enabling participants to mobilize and manage collateral assets for margin requirements.
• OTC Clearing Central clearing services for over-the-counter derivatives trades, reducing counterparty risk through novation.
• Listed Company Services Programs, events, and educational content for ASX-listed companies including investor engagement, education, insights, and tools and resources to enhance listing value.

Quantifiable outcome

• First globally by volume of follow-on transactions for 7 consecutive years
• +4 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Sustainability Reporting Community of Practice (SRCoP)coreStrategic or Co-development Partner · 1 July 2025Partnership between ASX, UN Global Compact Network Australia (UNGCNA) and Chartered Accountants Australia and New Zealand (CA ANZ) launched July 2025. SRCoP helps business professionals navigate sustainability reporting requirements, share learnings and knowledge, and foster collaboration in a safe space.
• Henry ScheinminorStrategic or Co-development PartnerPartnership with Henry Schein for Tetratherix's dental application for bone regeneration franchise. Henry Schein is a multinational distributor of medical and dental supplies and equipment.
• BioOpticsminorStrategic or Co-development PartnerJoint venture partnership with BioOptics for Ophthalmix in the ophthalmology/surgical applications of Tetratherix's synthetic polymer platform.
• Superpower HealthminorStrategic or Co-development PartnerPartnership with US-based Superpower Health for drug delivery applications using GLP-1s and peptides in the metabolic disease market. Partnership enables real-world evidence generation through US compounding pathway.
• LSEG Data & AnalyticsminorOthersMarket data is provided and copyrighted by LSEG Data & Analytics and Morningstar for ASX market data display.
• MorningstarminorOthersMarket data is provided and copyrighted by LSEG Data & Analytics and Morningstar for ASX market data display.
• S&P Dow Jones IndicesminorOthersIndex data provided by S&P Dow Jones Indices LLC for ASX indices including S&P/ASX 200.
• BloombergminorStrategic or Co-development PartnerASX-Bloomberg AusBond Index Futures partnership for benchmarking fixed income index futures supporting the A$2 trillion Australian bond market.

Scale indicators20 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Nasdaq, Inc. Nasdaq operates the Nasdaq Stock Market plus a significant market technology and index licensing business. It is a key global competitor for primary and dual listings and a benchmark for technology-driven exchange models that ASX's DLT CHESS modernisation emulates.
• Deutsche Börse Group: Deutsche Börse operates the Frankfurt Stock Exchange, Eurex derivatives, and Clearstream post-trade infrastructure. It is a leading European incumbent with a vertically integrated exchange/clearing/settlement model that mirrors ASX's full-stack architecture.
• London Stock Exchange Group (LSEG): LSEG operates the London Stock Exchange plus FTSE Russell indices and a major data/analytics franchise. It is a much larger, diversified incumbent offering equities, derivatives, and indices that competes with ASX for international listings and provides ASX's index/data licensing counterparties.
• Intercontinental Exchange (ICE): ICE operates major global exchanges and clearing houses including NYSE, and is a dominant derivatives marketplace. It competes with ASX across commodities, equities, and fixed income and is one of the largest financial market infrastructure operators globally.
• Cboe Global Markets:

Direct peers

• NZX (New Zealand's Exchange): NZX operates New Zealand's primary securities exchange with clearing and settlement services. ASX already has a NZ business development office and lists NZ companies (e.g., Ryman Healthcare), making NZX the closest direct peer by business model and trans-Tasman overlap.
• Hong Kong Exchanges and Clearing (HKEX): HKEX runs cash equities, derivatives, and clearing/settlement infrastructure across Hong Kong and mainland China connect schemes. It competes directly with ASX for international listings and APAC institutional capital, particularly for resources and large-cap issuers.
• TMX Group (Toronto Stock Exchange): TMX operates the Toronto Stock Exchange, TSX Venture, and Montreal Exchange with integrated clearing. It is a primary global venue for mining and resources listings (analogous to ASX's resource franchise) and competes for cross-listings of mining companies between Canada and Australia.
• Japan Exchange Group (JPX): JPX operates the Tokyo Stock Exchange and Osaka Exchange with integrated clearing. It is the largest APAC equity exchange by market cap and competes with ASX for international listings, ETF product listings, and regional institutional flow.
• Singapore Exchange (SGX): SGX operates a multi-asset exchange and clearing/settlement platform across equities, derivatives, and fixed income in Asia Pacific. It is the most direct regional peer to ASX, competing for international listings, derivatives volume, and Asian institutional flow.

Market position

Strengths5 records

Weaknesses1 record

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

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

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries7 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 ASX