The ASX (ASX:ASX) on Thursday outlined a slew of measures meant to boost the appeal of Australia's listed markets to catch up with how its global peers have evolved in the past years.

The measures are part of the ASX's response to the Australian Securities and Investments Commission's discussion paper on the dynamics between public and private markets.

In its report, the ASX emphasized the need for Australia's capital markets to evolve given the reforms implemented by peers like the UK, as well as the changing dynamics.

The Australian bourse's proposals include streamlining the IPO processes and giving consideration to dual-class shares. It also wants to review the approach to financial forecasts in prospectuses and the thresholds for foreign exemptions in listings. Further, it touched on areas such as insider trading, free float requirements, and listed corporate bonds.