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It is one of the largest stock exchanges globally, ranking 18th by market capitalization and 9th in the Asia region.
ASX’s primary role is to facilitate a fair and well-informed market for financial securities and provide an internationally competitive platform. The exchange issues listing rules that all listed entities must adhere to, covering various aspects such as listing, quotation, market information, reporting, disclosure, trading and settlement, administration, and general supervisory matters.
The Listing Rules are designed to protect the interests of listed entities and maintain investor confidence through the disclosure of material information. They are enforceable against listed entities and their associates under the Corporations Act, which also imposes additional regulations on listed entities concerning financial reporting, auditor rotation, meetings of members, appointment, and removal of directors, director remuneration, and related party transactions.
Listing on the ASX can be a complex and costly process that requires careful planning and project management, involving various professional advisors. Often, companies need to restructure their corporate group, operations, and internal governance arrangements as part of the listing process.