National Market, National Interest: The Drive to Unify Australia's Securities Markets

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Allen & Unwin, Jan 1, 2007 - Stock exchanges - 486 pages
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An official history of the Australian Stock Exchange, and the unification of Australia's security markets.
  

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Contents

A market out of control
1
The Rae Reportlifting the lid on abuse
27
Order out of chaos
39
National regulationan illnourished orphan
69
Arm in arm into the computer age
86
Optional extras
104
Turf warfare
121
The first chink in the armour
132
Tussles in technology
260
The 35 million CHESS game
288
Doing what TAURUS couldnt do
309
A new national regime of corporate regulation
326
Regulation through listing rules
355
Derivatives explosionASX and SFE lock horns
385
The end of the clubdemutualisation and float
403
A nation of shareholders
424

Campbell Report and the winds of change
155
SEATS empties the floor
178
G4 rounds up the sheep
200
ASXisborn
221
Flaws and fixes
245
Almost at the altar
439
Into the twentyfirst century
454
Notes
476
Index
478
Copyright

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Page 200 - It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than the creation of a new system, for the initiator has the enmity of all who would profit by the preservation of the old institutions and merely lukewarm defenders in those who would gain by the new ones.
Page 326 - I have made this letter longer than usual, only because I have not had the time to make it shorter.
Page 454 - As for the future, your task is not to foresee, but to enable it.
Page 156 - Committee starts from the view that the most efficient way to organise economic activity is through a competitive market system which is subject to a minimum of regulation and government intervention.
Page 156 - Committee is asked to: (a) Inquire into and report on the structure and methods of operation of the Australian financial system including the following institutions: (i) banks and non-bank financial institutions, including in relation to foreign exchange; (ii) the securities industry generally; (iii) the short-term money market, both official and non-official segments; (iv) specialist development finance institutions including...
Page 11 - Senate resolved to appoint a Select Committee 'to inquire into and report upon the desirability and feasibility of establishing a securities and exchange commission by the Commonwealth either alone or in co-operation with the States and the powers and functions necessary for such a commission to enable it to act speedily and efficiently against manipulation of prices, insider trading and such other improper or injurious practices as the Committee finds have occurred or may occur in relation to shares...
Page 273 - ... market power for the purpose of eliminating or substantially damaging a competitor, preventing entry into a market or deterring or preventing...
Page 55 - The first is to maintain, facilitate and improve the performance of the capital market in the interests of economic development, efficiency and stability.
Page 260 - The information standard has replaced the gold standard as the basis of world finance,

About the author (2007)

Former financial markets editor of The Australian Financial Review, Edna Carew is a regular contributor to Business Review Weekly and Personal Investment as well as international journals such as The Far Eastern Economic Review and Euromoney. She is also the author of several bestsellers including the Fast Money and Language of Money series, and Paul Keating, Prime Minister. She has also written several commissioned company histories.

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