Commsec
 |
|
| Subsidiary | |
| Traded as | ASX: CBA |
| Industry | Financial Services |
| Founded | Sydney, New South Wales (1995) |
| Headquarters | Sydney, Australia |
|
Area served
|
Australia New Zealand |
|
Key people
|
Paul Rayson, Managing Director |
| Website | www.commsec.com.au |
Commonwealth Securities, also known as CommSec, is Australia's largest discount stockbroking firm operated by the Commonwealth Bank of Australia.
It offers a telephone based brokerage service and advisory service, though its Internet trading platform constitutes the vast majority of its business.
The brokerage arm started operations in 1995 and launched its share trading website in 1997 project managed by the then Head of CBA IB Equities, John Beggs.
CommSec initially offered only Australian trades, but has since expanded into derivative products, international equities, managed funds, Self Managed Super Fund administration, Contracts-For-Difference (CFDs), margin lending and Short-term deposits. The firm's large retail customer base has also allowed it to successfully market a number of initial public offering (IPO) fund raisings.
In 2008 CommSec became the first Australian brokerage firm to offer a brokerage website specifically designed for a portable-device. It created CommSec iPhone Edition for the Apple iPhone, the first home-grown iPhone application in Australia.
CommSec's primary channel for customers is its website. The website provides static information that can be refreshed for updates on the frequently changing markets. It offers a comprehensive suite of features including trades, watchlists, funds management, portfolios, holdings management, financial & contract details, cash management, chatrooms and news & research.
CommSec's frequent equities, CFDs and options traders use the realtime trading platform CommSecIRESS. It is a web-based solution, developed by IRESS Market Technology (ASX: IRE) and based on the Java runtime environment. This platform combines the majority of the features of the website, while adding more advanced features and streaming live data from the Australian Securities Exchange.
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