Commonwealth Bank Financial Markets first to launch secondary market transactions online with ecommcorporate.com
28 March 2001
Commonwealth Bank Financial Markets today announced the launch of its Secondary Markets Securities transactional site for trading Bonds and Commercial Paper online with its professional and sophisticated investor clients.
The site is a part of the ecommcorporate site, which is the Bank's Institutional Banking B2B Internet channel. The Bank is the first to facilitate electronic secondary market Bond and Commercial Paper transactions in Australia.
Peter Prowse, Global Head of ecommerce Commonwealth Bank Financial Markets said, "The Commonwealth Bank continues to be at the forefront of Financial Markets ecommerce in Australia. ecommcorporate was the first integrated financial markets multi-product transactional web site in Australia with the launch of FX, Cash Accounts and Payments in 1999. The introduction of additional transactional functionality for Secondary Market Bonds (Government, Semi-Government and Corporate) and Commercial Paper is another step towards meeting the online expectations of our wholesale clients."
Since launching, ecommcorporate has increased FX functionality to include Pre-deliveries, Extensions and Optional Dated Forwards as well as introducing Standard Settlement Instructions and Nett Settlements. The Commonwealth Bank through ecommcorporate also co-launched the first Internet channel for the primary execution of new debt issues (wholesale and retail bonds) in Australia.
"The Secondary Markets Bond Site provides professional and sophisticated clients of the Bank with the online capability to execute bond transactions with the Commonwealth Bank. Clients will be able to order, sell or switch between Government, Semi-Government and Corporate Bonds, manage their portfolios online, view indicative prices, access the latest research and utilise tools and calculators.
"The Commercial Paper site allows wholesale clients to access live pricing, view and buy stock, manage their Commercial Paper portfolios online and access the latest research," he said.
Commenting on future developments on ecommcorporate Peter Prowse said, "We will also be introducing Bank Bills, Fixed Term Deposits, FX Options and a number of risk management and portfolio analysis tools over the coming months".