An index on the Australian Stock Exchange that acts as the market indicator for Australia's equity (i.e. share) market. It is comprised of the 500 largest companies listed on the ASX. As this is a market indicator index the liquidity of the stocks which form part of the index is not considered. The ASX code for the All Ordinaries Index is XAO and it is often refered to merely as the "All ords index". Ratings agency Standard & Poor's calculates the All Ords under an alliance arrangement with the ASX. From the ASX indicies information page: Also known as: XAO All Ords All Ords Index See also: Share Market Index - for a general discussion about the various share market indices you will find mentioned by the financial media.