Stock Exchange of Perth
Former Western Australian securities exchange that operated in Perth from 1889 until its incorporation into the Australian Securities Exchange in 1987.
Last updated August 25, 2026
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Overview
The Stock Exchange of Perth, also known as the Perth Stock Exchange, was a securities market based in Perth, Western Australia. It was established in July 1889 after a split within Perth’s early exchange community. An initial meeting for people interested in creating a Perth stock exchange had taken place in August 1888, followed by the inaugural meeting of the Perth Stock Exchange on 1 October 1888 under the presidency of Alexander Forrest. High entrance fees were cited as a reason for the creation of a second exchange the following year. The new institution, known as the Stock Exchange of Perth, elected Hector Rason as its first president. At its first annual meeting, held on 7 July 1890, Henry Saunders became president. The exchange developed during a period of rapid economic and commercial expansion in Western Australia, when mining, exploration, land development and associated enterprises generated demand for organized securities trading. Its role was to provide a formal marketplace in which brokers and investors could transact shares and related investments connected with Western Australian businesses. The exchange was part of the institutional infrastructure that supported the state’s capital markets, particularly during the development of the mining sector. A dedicated exchange building was established at 49 St Georges Terrace, one of Perth’s central commercial locations. John Forrest, then Premier of Western Australia, laid the foundation stone for the new building on 22 October 1896. The premises became an important physical marker of Perth’s financial district and the exchange’s place in the city’s business history. The Stock Exchange of Perth later became part of efforts to coordinate Australian securities markets. In 1937, the Australian Associated Stock Exchanges was created by the exchanges of Adelaide, Brisbane, Hobart and Sydney. Melbourne and Perth subsequently joined the association. This cooperation helped develop more consistent operating practices across the country. In 1972, Australian exchanges adopted a uniform listing standard, an important step toward harmonizing admission and disclosure requirements across regional markets. The exchange also participated in financial education. In 1977, it worked with the Western Australian Education Department to introduce Capitaliser, a share-market simulation for schools. The program used a practical trading-game format to teach students about shares, investment decisions and the operation of securities markets. The Stock Exchange of Perth ceased to operate as an independent exchange on 1 April 1987. On that date it merged with five other Australian securities exchanges to form the Australian Securities Exchange, consolidating Australia’s previously regional exchange structure. The Perth exchange therefore represents an earlier, decentralized phase of Australian capital-market organization rather than a continuing standalone brand. Historical records are held by the J S Battye Library in Perth and the Noel Butlin Archives Centre at the Australian National University in Canberra.
History
The institutional origins of the Stock Exchange of Perth lay in the formation of a local securities market during the late nineteenth-century expansion of Western Australia. People interested in creating a Perth exchange met in August 1888, and the first Perth Stock Exchange held its inaugural meeting on 1 October 1888, with Alexander Forrest as president. The initial organization did not remain the only market in the city. High entrance fees were given as the reason for establishing a second exchange, the Stock Exchange of Perth, in July 1889. Hector Rason served as its president at formation, while Henry Saunders was elected president at the first annual meeting on 7 July 1890. The exchange operated in a commercial environment strongly influenced by mining and resource development. A formal marketplace allowed brokers and investors to trade securities connected with Western Australian enterprises and gave the emerging colony, later state, a recognizable financial institution. In 1896, the exchange’s presence was reinforced through construction of a dedicated building at 49 St Georges Terrace. John Forrest, Premier of Western Australia, laid the foundation stone on 22 October 1896. The address placed the exchange within Perth’s developing central business and financial district. During the twentieth century, the Perth market became increasingly connected to the broader Australian exchange system. The Australian Associated Stock Exchanges was created in 1937 by the Adelaide, Brisbane, Hobart and Sydney exchanges. Melbourne and Perth later joined the organization. This association represented a move away from completely separate state-based markets and toward common standards and coordination. In 1972, Australian exchanges adopted a uniform listing standard, making the rules for companies seeking admission more consistent between regional venues. The Stock Exchange of Perth also had an educational role. In cooperation with the Western Australian Education Department, it introduced Capitaliser in 1977. The school share-market game gave students a simulated way to learn about buying and selling shares and the consequences of investment choices. This initiative connected the exchange’s public role with broader financial literacy and community education. The regional exchange model ultimately gave way to national consolidation. On 1 April 1987, the Stock Exchange of Perth merged with five other Australian securities exchanges to form the Australian Securities Exchange. The merger ended the Perth exchange’s independent operations and placed its market functions within a single national organization. The former exchange is therefore historically significant as an institution in Western Australia’s capital-market development, but it is no longer an operating exchange or independent brand. Its records are preserved at the J S Battye Library in Perth and the Noel Butlin Archives Centre at the Australian National University in Canberra.
- 1987
Merged into the Australian Securities Exchange
[1]The Stock Exchange of Perth merged with five other Australian securities exchanges on 1 April, ending its independent operations.
- 1977
Capitaliser launched
[1]The exchange and Western Australia’s Education Department introduced a share-market game for schools.
- 1972
Uniform Australian listing standard adopted
[1]The Australian exchanges adopted common listing standards, increasing consistency across regional securities markets.
- 1937
Joins the Australian Associated Stock Exchanges
[1]Perth later joined the inter-exchange association initially established by the Adelaide, Brisbane, Hobart and Sydney exchanges.
- 1896
Foundation stone laid for St Georges Terrace building
[1]John Forrest laid the foundation stone for the exchange’s new building at 49 St Georges Terrace, Perth, on 22 October.
- 1890
First annual meeting
[1]Henry Saunders was elected president at the exchange’s first annual meeting on 7 July.
- 1889
Stock Exchange of Perth established
[1]A separate exchange was formed in July, with Hector Rason as president, reportedly in response to high entrance fees at the earlier Perth exchange.
- 1888
Initial Perth exchange movement begins
[1]An initial meeting was held in August to discuss establishing a stock exchange in Perth; the inaugural meeting of the Perth Stock Exchange followed on 1 October.
Products and positioning
A regional securities exchange serving Western Australia and providing an organized marketplace for shares and other investments, particularly those associated with the state’s mining and commercial economy.
Exchange services · 1889
Securities listings and trading
The exchange provided an organized Perth marketplace for the listing and trading of securities. Its market served Western Australian companies and investors, with mining and resource-related enterprises forming an important part of the state’s commercial and investment environment.
Financial education · 1977
Capitaliser
Capitaliser was a school share-market simulation introduced in 1977 in cooperation with the Western Australian Education Department. It was designed to give students practical exposure to investment choices, share trading and the operation of a securities market.
Marketing campaigns
- 1977Capitaliser
Western Australia
The Stock Exchange of Perth partnered with the Western Australian Education Department to bring a simulated share-market game into schools, using practical participation to support financial and investment education.
Outcome. The initiative became a documented part of the exchange’s public education activities; the available reference material does not provide participation figures or later program results.
Brand decisions
1987
Merger into the Australian Securities ExchangeM&ABackground
Australia’s formerly separate state and regional securities exchanges were consolidated into a national market structure.
Action taken
On 1 April, the Stock Exchange of Perth merged with five other Australian securities exchanges to form the Australian Securities Exchange.
Aftermath
The Perth exchange ceased operating as an independent institution and its market functions became part of the national exchange.
1972
Adoption of a uniform Australian listing standardStrategyBackground
Australian securities exchanges operated as regional markets, creating a need for more consistent listing requirements and closer coordination.
Action taken
The Perth exchange adopted the common listing standard used by Australian exchanges.
Aftermath
The change increased regulatory and operational consistency across Australia’s exchange network.
Recent events
- 1987
Stock Exchange of Perth becomes part of the Australian Securities Exchange[1]
M&A
The Perth exchange merged with five other Australian securities exchanges on 1 April, ending its existence as an independent regional market.
- 1977
Capitaliser introduced in Western Australian schools[1]
Campaign
The exchange collaborated with the Western Australian Education Department on Capitaliser, a school share-market game designed to teach students about investment and securities trading.
- 1972
Perth exchange adopts coordinated Australian listing standards[1]
Regulation
Australian securities exchanges adopted a uniform listing standard, bringing greater consistency to the requirements applied by regional exchanges including Perth.
- 1889
Second Perth exchange established[1]
Other
The Stock Exchange of Perth was formed in July after high entrance fees were cited as a reason for establishing a separate exchange from the earlier Perth Stock Exchange.
- 1888
Perth Stock Exchange community begins organizing a formal market[1]
Other
An initial meeting was held in Perth for people interested in establishing a local stock exchange, followed by the inaugural meeting of the Perth Stock Exchange later that year.
Sources1 sources
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