The All Ordinaries Index (a.k.a All Ords) was established in 1980 and is perhaps the most internationally recognised indicator of the Australian share market. Encompassing the 500 largest Australian listed companies, the All Ords chart is often used as a “barometer” for the economy. The index code is XAO.
- Why is ASX Data 20min Delayed?
All free data (Google, Yahoo etc.) is 20 minutes delayed due to licensing restrictions imposed by the Australian Securities Exchange (ASX).
Access to “live” and “dynamic” share price data requires an account with a Stockbroker or Financial Adviser.
Live share prices (click-to-refresh) will cost a retail investor about $10 per month.
Dynamic share prices (auto-refresh) typically cost about $80 per month.
- How does the ASX Open work?
Opening takes place at 10:00 am Sydney time and lasts for about 10 minutes.
ASX shares open in five groups, depending on the starting letter of their ASX code:
Group 1 10:00:00 am +/- 15 secs A-B, e.g. ANZ, BHP
Group 2 10:02:15 am +/- 15 secs C-F, e.g. CBA, DJS, EXT, FMG
Group 3 10:04:30 am +/- 15 secs G-M, e.g. GNC, HDF, ILU, JBH, KAR, LYC, MYR
Group 4 10:06:45 am +/- 15 secs N-R, e.g. NAB, OST, PDN, QAN, RIO
Group 5 10:09:00 am +/- 15 secs S-Z, e.g. SEK, TLS, UGL, VBA, WBC, ZIM
The opening time is randomly generated and occurs up to 15 seconds on either side of the times shown above, e.g. Group 1 may open at any time between 9:59:45 am and 10:00:15 am.
- How does the ASX Close work?
Between 4:00 pm and 4:10 pm EST, shares go into “match”.
During the match phase you can place, remove or amend an order, but no trades actually takes place.
Orders (both buy and sell) are ranked according to their respective price. Who ever bids the highest (for buyers) or offers the lowest (for sellers) are placed at the front of the queue. Often there is a crossover in the middle (e.g. the lowest seller might offer $1.55 and the highest buyer might bid $1.63). The area in the middle where they cross over is called the “match”.
A random time is generated at 4:10 pm Sydney time, +/- 15sec.
All “matching” share prices are weighted to find their mid-point and this becomes the closing price of the share. All trades that take place on the close are completed at the same price, regardless of what price you bid or offer.
- Why is the open/close time randomly generated?
Using a randomly generated time to open and close the ASX prevents stockbrokers and traders from manipulating the opening and closing price of a share.
If all shares opened/closed at the exact same time each day, computers could be used to automatically place a trade at the precise moment a share opens/closes, thus “outwitting” human traders.
6 Month (Daily)
12 Month (Daily)
5 Year (Monthly)
About the All Ords Index
Measured in points, the All Ords was initially created with a base value of 500, providing a relative measure of the value of the stocks contained within. By comparing the All Ords of the day with the original value of 500 points, it was possible to get a quick snapshot of current market conditions. If the index was at 1000 points, the value of all the stocks making up the All Ords had doubled since January 1980.
A change in the indicator’s composition was instituted in January 2000, whereby the All Ordinaries Index would be calculated using the market capitalisation of the top 500 listed companies on the Australian Stock Exchange (ASX), replacing the previously accepted base index. The market capitalisation is calculated by multiplying company’s share price by the number of shares currently held by the public, giving a market value of the company’s stock. These values are then assigned a ‘weight’. Once all the included stocks have been ‘weighted’, the All Ords is calculated by adding together all the ‘weighted’ values, then dividing the sum by the total number of companies that comprise the index.
The adjustment to the calculation of the All Ordinaries Index coincided with the introduction of additional market indexes such as the Standard & Poors ASX 200 Composite Index. The S&P/ASX200 is made up of 200 of the largest, most frequently traded stocks on the Australian Stock Exchange (ASX) and has slowly gained recognition as Australia’s “primary” index.