Australia, what a concept...


I moved to Australia from the U.S. when I was fifty. The transition looked deceptively simple. After all, I’d visited there a half-dozen times, I knew my way around, and the Aussies speak English—how hard could it be? I quickly found there’s a big difference between being a tourist in a country and having to make a serious go of it. This blog covers what I had to learn the first few years in order to survive.
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Sunday, May 18, 2008

Business: the shares (stock) market

Stocks are called shares, the stock market is the share market (also called the Bourse). Shares are traded through brokers and online brokerages (such as banks, etc.), just as in the U.S.
The Australian Shares Exchange is the ASX. All publicly traded companies are registered with ASICS (the Australian Securities and Investments Commission) equivalent to the U.S. Securities and Exchange Commission. All securities traded online with the ASX are cleared and settled through CHESS (Clearing House Electronic Sub-register System), which is owned by ASTC, the Australian Stock Exchange Settlement and Transfer Corporation, which is owned by the ASX. Details are on www.investasutralia.gov.au.

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