What function does the Australian Securities Exchange serve?

The Australian Securities Exchange (ASX) primarily functions to bring together buyers and sellers to facilitate the exchange of shares. This means that it operates as a marketplace for securities, enabling companies to raise capital by listing their shares and allowing investors to buy and sell those shares in a regulated environment. Through this platform, the ASX ensures that transactions are conducted fairly and transparently, promoting investor confidence.

In this context, the ASX does not regulate interest rates, provide tax advice, or manage foreign investments, as these activities fall under the purview of different institutions and agencies. Instead, its core role focuses on the trading of financial securities, thus enhancing liquidity and enabling price discovery for investors.