Commonwealth Securities, also known as "CommSec" or "ComSec", is Australia's largest discount stockbroking firm operated by the Commonwealth Bank of Australia, one of Australia's top four banks.
The subsidiary has been highly successful as a discount broker by attracting many "mums and dads" (retail) investors. It offers a telephone based brokerage service and advisory service, though its Internet trading platform constitutes the vast majority of...
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Commonwealth Securities, also known as "CommSec" or "ComSec", is Australia's largest discount stockbroking firm operated by the Commonwealth Bank of Australia, one of Australia's top four banks.
The subsidiary has been highly successful as a discount broker by attracting many "mums and dads" (retail) investors. 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.
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...
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