The Drive to Unify Australia's Securities Markets.
An official history of the Australian Stock Exchange, and the unification of Australia's security markets.
This is a story that has never been fully told - how a tight band of dedicated men worked tirelessly to persuade the majority to turn their backs on familiar, comfortable centuries-old privileges and traditions and embrace a new regime that would better serve Australia's national interest.
Shaping a national stock exchange, to replace the six state-based exchanges, called for an end to decades of petty interstate rivalry and squabbling. The six exchanges were forced to lay to rest issues of self-interest and ego to form a national body, providing Australia with a national securities market which has gone on to play a serious role in world financial markets, offering opportunities and benefits to domestic and international companies and investors.
In 'National Market, National Interest', best-selling financial author Edna Carew peels away the mystique of high finance to take the reader deeply into the planning, plotting cajoling and sheer hard work that characterised the struggle which brought this country a sophisticated, efficient electronic share-trading system (SEATS), a national stock exchange (ASX), a world-class electronic system for settling shares (CHESS) and uniform, national legislation underpinning a national securities market.
This book is a must-read for all students of finance and financial markets, investors and those interested in learning of a hitherto little-known chapter of Australia's history.
