The Australian Securities Exchange (ASX) is the primary securities exchange in Australia. Established in 1987, it serves as a marketplace for trading a wide range of financial instruments, including equities (stocks), derivatives, fixed-income securities, and commodities. The ASX plays a vital role in facilitating capital formation, liquidity, and price discovery in the Australian financial markets.

As a fully electronic exchange, the ASX provides a platform where buyers and sellers can come together to trade securities. It operates on a central order book system, where orders are matched based on price and time priority. The ASX also offers a suite of trading and clearing services, as well as a range of market data products to support investors and market participants.

The ASX is known for its robust regulatory framework, which ensures fair and transparent trading practices. It is overseen by the Australian Securities and Investments Commission (ASIC) and adheres to strict listing and disclosure requirements to maintain market integrity and investor confidence.

The ASX is a significant component of the Australian financial system, contributing to the country's economic growth and providing a platform for investors to participate in the local capital markets.