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Commonwealth Securities is a discount stockbroking firm operated by the Commonwealth Bank of Australia, one of Australia's top four banks. The brokerage arm started operations in 1995.
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.
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 Initial public offering fund raisings.