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			{{Short description\|Australian online stockbroking firm}}
	'''Commonwealth Securities''' is a discount ] firm operated by the ], one of ]'s top four ]s. The brokerage arm started operations in 1995.
			{{Use Australian English\|date=October 2013}}
			{{Use dmy dates\|date=August 2020}}
			{{Infobox company
			\|name = CommSec
			\|logo = CommSecLogo.png
			\|type = Subsidiary
			\|traded_as =
			\|foundation = 17 July 1995
			\|location = ], Australia
			\|key_people = James Fowle<br><small>(])</small>
			\|products = <br><br>
			\|industry = ]
			\|area_served = {{Unbulleted list\|Australia\|New Zealand}}
			\|parent = ]
			\|homepage = }}

			'''Commonwealth Securities Limited''', or '''CommSec''', is Australia's largest online ]. It is a subsidiary of the ].
	Commonwealth Securities, or "CommSec" as it is more commonly known, has been highly successful as a discount, non-advisory broker attracting many "mums and dads" (retail) investors. While it also offers a telephone based brokerage service, its Internet trading platform constitutes the vast majority of its business.

			Though its Internet trading platform constitutes the vast majority of its business, it also offers a telephone based brokerage service, and investment advisory services.<ref>{{cite news\|url=http://www.smh.com.au/news/investment/big-is-beautiful-for-online-brokers/2006/03/27/1143441084612.html?page=3 \|title=Big is beautiful for online brokers \|work=]\|accessdate=4 December 2011 \|date=28 March 2006 \|url-status=live \|archive-url=https://web.archive.org/web/20121103153146/http://www.smh.com.au/news/investment/big-is-beautiful-for-online-brokers/2006/03/27/1143441084612.html?page=3 \|archive-date= Nov 3, 2012 }}</ref> In addition, CommSec also offers other peripherally related investment services, such as margin loan and cash accounts.
⚫	CommSec initially offered only Australian equities trades, but has since expanded into derivative products, international equities, managed funds ~~and~~ margin lending. The firm's large retail customer base has also allowed it to successfully market a number of ] fund raisings.

			==History==
⚫	]
			The brokerage arm started operations in 1995 and launched its share trading website in 1997.<ref>{{cite web \|url=http://www.alexa.com/data/details/main/comsec.com.au \|archive-url=https://web.archive.org/web/20230506042156/https://www.alexa.com/data/details/main/comsec.com.au \|url-status=dead \|archive-date=6 May 2023 \|title=Site Description for commsec.com.au \|publisher=Alexa.com \|accessdate=4 December 2011 }}</ref><ref>{{cite web \|url=http://richardlees.com.au/Documents/Intel_Microsoft_Commsec_final_june2006.pdf \|title=Investment in 64-bit Intel ® Itanium 2 servers pays returns for CommSec \|publisher=Intel® and Microsoft® \|accessdate=4 December 2011 \|url-status=dead \|archiveurl=https://web.archive.org/web/20111005174120/http://richardlees.com.au/Documents/Intel_Microsoft_Commsec_final_june2006.pdf \|archivedate=5 October 2011}}</ref>

		⚫	CommSec initially offered only Australian ] trades, but has since expanded into ], international equities, ], self-managed super fund (SMSF) administration, ] (CFDs), ] and short-term deposits. The firm's large retail customer base has also allowed it to successfully market a number of ] (IPO) fund raisings.

			In 2008 CommSec became the first Australian brokerage firm to offer a brokerage website specifically designed for a portable-device.<ref>{{cite web\|last=Tung \|first=Liam \|url=http://www.cnet.com.au/mobilephones/phones/0,239025953,339290515,00.htm?feed=pt_log \|title=CommSec launches iPhone trading app \|publisher=Cnet Australia \|date=11 July 2008 \|accessdate=4 December 2011 \|url-status=dead \|archive-url=https://web.archive.org/web/20120213225925/http://www.cnet.com.au/commsec-launches-iphone-trading-app-339290515.htm \|archive-date= Feb 13, 2012 }}</ref> It created CommSec iPhone Edition for the ] ], the first home-grown iPhone application in Australia. In 2008 the broker disbanded its ''Share Shops'' (face-to-face operations) closing the front in the Commonwealth Bank branch in ], ], following the earlier closure of the Melbourne Share Shop in ].

			===Mergers and acquisitions===
			CommSec has retained and increased its already significant market share in retail broking through both CBA's acquisition of other banks and its own acquisition of other broking firms.<ref>{{cite web \|url=http://www.investordaily.com.au/archive/IDD00037452.xml \|title=CommSec snaps up direct funds firm \|publisher=InvestorDaily \|date=6 April 2006 \|first1=Catherine \|last1=James \|accessdate=4 December 2011 \|url-status=dead \|archiveurl=https://web.archive.org/web/20091021120336/http://investordaily.com.au/archive/IDD00037452.xml \|archivedate=21 October 2009}}</ref> CommSec now performs broking operations for Colonial First State,<ref>{{cite web\|url=http://www.abc.net.au/pm/stories/s133221.htm \|work=PM \|title=Commonwealth Bank takes over Colonial Mutual \|publisher=ABC \|location=Australia \|date=31 May 2000 \|accessdate=4 December 2011 \|url-status=dead \|archive-url=https://web.archive.org/web/20120326183233/http://www.abc.net.au/pm/stories/s133221.htm \|archive-date= Mar 26, 2012 }}</ref> TD Waterhouse,<ref>{{cite news\|url=https://www.cbc.ca/news/business/td-bank-selling-australian-discount-brokerage-operations-1.362217 \|title=TD Bank selling Australian discount brokerage operations \|publisher=CBC News Business \|location=Canada \|date=15 April 2003 \|access-date=4 December 2011 \|url-status=live \|archive-url=https://web.archive.org/web/20121113191038/http://www.cbc.ca/news/business/story/2003/04/15/tdwaterhouse_030415.html \|archive-date= Nov 13, 2012 }}</ref> AOT,<ref>{{cite web \|url=http://www.commsec.com.au/Public/News.aspx?ID=594 \|title=Faqs For Aot Options Clients \|publisher=CommSec \|date= 23 Jan 2005 \|accessdate=4 December 2011 \|url-status=dead \|archiveurl=https://web.archive.org/web/20111005174120/http://www.commsec.com.au/Public/News.aspx?ID=594 \|archivedate=5 October 2011}}</ref> Neville Ward Direct,<ref>{{cite web \|url=http://www.accc.gov.au/content/index.phtml/itemId/729344/fromItemId/633054 \|title=Commonwealth Securities Limited (Commsec) – acquisition of Neville Ward Direct Pty Limited \|publisher=ACCC \|date=19 April 2006 \|accessdate=4 December 2011 \|url-status=dead \|archiveurl=https://web.archive.org/web/20110926205559/http://www.accc.gov.au/content/index.phtml/itemId/729344/fromItemId/633054 \|archivedate=26 September 2011}}</ref><ref>{{cite web \|url=http://images.comsec.com.au/funds/ManagedFunds/Prospectus/PDFs/nwsandcommsecletter.pdf \|title=Neville Ward Direct and CommSec – two strong teams united \|date=29 March 2006 \|publisher=Neville Ward Direct \|accessdate=4 December 2011 \|url-status=dead \|archiveurl=https://web.archive.org/web/20111005174120/http://images.comsec.com.au/funds/ManagedFunds/Prospectus/PDFs/nwsandcommsecletter.pdf \|archivedate=5 October 2011}}</ref> Auckland Savings Bank (ASB),<ref>{{cite web\|url=http://www.commbankuk.co.uk/moving_to_new_zealand/ \|title=Moving to New Zealand \|publisher=Commonwealth Bank Group UK \|accessdate=4 December 2011 \|url-status=dead \|archive-url=https://web.archive.org/web/20070814160813/http://www.commbankuk.co.uk/moving_to_new_zealand/ \|archive-date= Aug 14, 2007 }}</ref> and IWL (Westpac Broking, Sanford and Avcol).<ref>{{cite web \|url=http://www.investordaily.com.au/3630.htm \|title=CommSec takes over Sanford clients \|publisher=InvestorDaily \|first1= Kate \|last1=Kachor \|date=19 Dec 2007 \|accessdate=4 December 2011 \|url-status=dead \|archiveurl=https://web.archive.org/web/20110303083602/http://investordaily.com.au/3630.htm \|archivedate=3 March 2011}}</ref> The acquisition of IWL in 2007 gave CommSec significant market share in wholesale broking to complement its existing retail presence.<ref>{{cite news\|url=http://www.news.com.au/heraldsun/story/0,21985,22173877-664,00.html \|title=Commsec unfazed in IWL purchase \|publisher=News.com.au \|date=2 August 2007 \|accessdate=4 December 2011}}</ref>

			==Cash management==
			In 2008 CommSec diversified into the short term deposit sector with the introduction of its Cash Management product.<ref></ref> The product consists of two distinct accounts the CommSec Cash Account (CCA) and the CommSec Investment Account (CIA). The CCA is the source of funds for stock trading and also an everyday transaction account, with a linked debit ]. The CIA earns interest and cash can only be transferred to and from the CCA.

			In December 2012, CommSec announced plans to replace CCA and CIA accounts with a Commonwealth Direct Investment Account (CDIA), which is a settlement account that earns interest.<ref>{{cite web \|url=https://www.commsec.com.au/products/cash-investment-account.html \|title=Your cash account for trading \|publisher=CommSec \|accessdate=30 June 2015}}</ref>

			==References==
			{{reflist}}

			{{Commonwealth Bank}}
			{{Online brokerages}}


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Latest revision as of 06:49, 31 October 2024

Australian online stockbroking firm

CommSec

Company type	Subsidiary
Industry	Financial services
Founded	17 July 1995
Headquarters	Sydney, Australia
Area served	Australia New Zealand
Key people	James Fowle (Executive General Manager)
Products	CDIA CommSec Margin Loan CommSec Pocket
Parent	Commonwealth Bank
Website	www.commsec.com.au

Commonwealth Securities Limited, or CommSec, is Australia's largest online stockbroking firm. It is a subsidiary of the Commonwealth Bank.

Though its Internet trading platform constitutes the vast majority of its business, it also offers a telephone based brokerage service, and investment advisory services. In addition, CommSec also offers other peripherally related investment services, such as margin loan and cash accounts.

History

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 (SMSF) 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. In 2008 the broker disbanded its Share Shops (face-to-face operations) closing the front in the Commonwealth Bank branch in Pitt Street, Sydney, following the earlier closure of the Melbourne Share Shop in Collins Street.

Mergers and acquisitions

CommSec has retained and increased its already significant market share in retail broking through both CBA's acquisition of other banks and its own acquisition of other broking firms. CommSec now performs broking operations for Colonial First State, TD Waterhouse, AOT, Neville Ward Direct, Auckland Savings Bank (ASB), and IWL (Westpac Broking, Sanford and Avcol). The acquisition of IWL in 2007 gave CommSec significant market share in wholesale broking to complement its existing retail presence.

Cash management

In 2008 CommSec diversified into the short term deposit sector with the introduction of its Cash Management product. The product consists of two distinct accounts the CommSec Cash Account (CCA) and the CommSec Investment Account (CIA). The CCA is the source of funds for stock trading and also an everyday transaction account, with a linked debit Mastercard. The CIA earns interest and cash can only be transferred to and from the CCA.

In December 2012, CommSec announced plans to replace CCA and CIA accounts with a Commonwealth Direct Investment Account (CDIA), which is a settlement account that earns interest.

References

"Big is beautiful for online brokers". Sydney Morning Herald. 28 March 2006. Archived from the original on 3 November 2012. Retrieved 4 December 2011.
"Site Description for commsec.com.au". Alexa.com. Archived from the original on 6 May 2023. Retrieved 4 December 2011.
"Investment in 64-bit Intel ® Itanium 2 servers pays returns for CommSec" (PDF). Intel® and Microsoft®. Archived from the original (PDF) on 5 October 2011. Retrieved 4 December 2011.
Tung, Liam (11 July 2008). "CommSec launches iPhone trading app". Cnet Australia. Archived from the original on 13 February 2012. Retrieved 4 December 2011.
James, Catherine (6 April 2006). "CommSec snaps up direct funds firm". InvestorDaily. Archived from the original on 21 October 2009. Retrieved 4 December 2011.
"Commonwealth Bank takes over Colonial Mutual". PM. Australia: ABC. 31 May 2000. Archived from the original on 26 March 2012. Retrieved 4 December 2011.
"TD Bank selling Australian discount brokerage operations". Canada: CBC News Business. 15 April 2003. Archived from the original on 13 November 2012. Retrieved 4 December 2011.
"Faqs For Aot Options Clients". CommSec. 23 January 2005. Archived from the original on 5 October 2011. Retrieved 4 December 2011.
"Commonwealth Securities Limited (Commsec) – acquisition of Neville Ward Direct Pty Limited". ACCC. 19 April 2006. Archived from the original on 26 September 2011. Retrieved 4 December 2011.
"Neville Ward Direct and CommSec – two strong teams united" (PDF). Neville Ward Direct. 29 March 2006. Archived from the original (PDF) on 5 October 2011. Retrieved 4 December 2011.
"Moving to New Zealand". Commonwealth Bank Group UK. Archived from the original on 14 August 2007. Retrieved 4 December 2011.
Kachor, Kate (19 December 2007). "CommSec takes over Sanford clients". InvestorDaily. Archived from the original on 3 March 2011. Retrieved 4 December 2011.
"Commsec unfazed in IWL purchase". News.com.au. 2 August 2007. Retrieved 4 December 2011.
Better cash management from CommSec
"Your cash account for trading". CommSec. Retrieved 30 June 2015.

v t e Commonwealth Bank
Subsidiaries	ASB Bankwest Commonwealth Bank Colonial First State (45%) CommSec Sovereign Limited
Former subsidiaries	CBHS Health Fund Colonial First State Global Asset Management
Notable people	Catherine Livingstone (Chairman) Matt Comyn (CEO) Craig James (CommSec Chief Economist)
Former notable people	See Former executive leadership of the Commonwealth Bank
Related	Bank of Hangzhou

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