CommSec

Submitted by Share Trading on 29 January, 2010 - 15:31

CommSec or Comsec and also known as Commonwealth Securities is Australia’s largest discount stockbroking company owned by Commonwealth Bank of Australia. As a discount broker, the company has been highly successful in attracting “mum and dad investors”. The majority of its stockbroking business is done through its internet trading platform, while they also operate a telephone brokerage service and broker advisory service.

CommSec Services

CommSec started operations in 1995 with its share trading website being launched in 1997. CommSec initially offered only Australian equities 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 frequent equities, CFDs and options traders use the realtime trading platform CommSecIRESS. It is a web-based solution, developed by Iress Market Technology (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. CommSec also offers phone-based trading through its call-centre, advisory service and the automated voice recognition platform PhoneTrader.

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