ComSec lead with half-price trades
11 February 2002
Commonwealth Securities Limited (ComSecTM), a Commonwealth Bank subsidiary and Australia's leading broker, today announced half price brokerage for both phone and Internet.
Paul Rickard, Director of ComSec said, "The market today is very competitive and ComSec is making it easier for Australians to invest. Our offer is without the onerous conditions many other competitor clients have to achieve frequent trader discounts."
"This half price offer is open to new and existing clients, CHESS sponsorship is not mandatory, a minimum cash holding is not required to be eligible for lower prices and there are no monthly fees."
"This is an exciting opportunity for Australian shareholders to benefit from this special half price offer, which applies from March through to June for both existing and new clients," said Mr Rickard.
The half price brokerage offer is available to clients who do more than 14 Australian share trades in any month, with the 15th and subsequent trades at half price. With the half price brokerage offer, clients can trade from as low as $8.15 (inc GST) with Internet Preferred, $15.80 for regular Internet and $27.30 for phone trades up to $10,000. The savings will be rebated to clients' trading account by the middle of the next calendar month.
Over the last six years ComSec has consistently led the industry in making share trading more affordable for all Australians. Initially launching in 1995 with a competitive $75 trade versus the prevailing $200-$250. In 1996 ComSec introduced $50 trades; $29 online trades in 1998 and then $14.95 for online trades in April 2000 (now $16.30 including GST).
The Internet site at (www.comsec.com.au) provides registered clients with company information, market news, live stock prices and research on commodities and the financial markets. There is no charge to register as a client, and there are no monthly subscription fees.
ComSec has been a leader in online broking and is now Australia's most popular broker overall, regularly executing some 8 - 9% of all ASX trades, more than any other broker in Australia.