CommSec Achieves Record Trading
1 September 2003
Australia’s leading online broker, CommSec, achieved its highest ever month of trading during August.
CommSec recorded 400,354 trades during August. Formerly the highest number of monthly transactions was 368,456 in March 2000.**
Value of trades also reached a record high during August. At market close on August 29, CommSec had recorded trades worth $3.5 billion. The previous highest value month was $2.6 billion in July, 2003. **
"This is an outstanding result spurred not only by our acquisition of TD Waterhouse but also by a greater confidence in the market," said CommSec General Manager, Michael Blomfield.
"The recovery in global markets is gaining momentum. The Australian All Ordinaries stands at 13-month highs, the US Dow Jones is at 14-month highs and both the Japanese and UK sharemarkets are at their highest points in just under a year.
"Our trading figures demonstrate that retail investors are coming back to the market and that they are coming back to buy – 57 per cent of contract notes for August are purchases.
"Mum and dad investors are also gaining increased confidence in the market and are starting to see it as a valuable diversifying addition to their property investments," Mr Blomfield said.
The acquisition of TD Waterhouse during July has contributed to the rise in CommSec’s number of trades but in no way accounts for the overall increase in trading.
"Prior to the TD Waterhouse acquisition, CommSec was averaging 8,000 trades per day and TD Waterhouse 2,000 per day. During August our average trades per day has been closer to 20,000, which is double the combined total of both companies," Mr Blomfield said.
To ensure CommSec retains its high standard of client service during increased periods of trading, CommSec has streamlined processes and almost doubled the number of staff in its call centre.
"At CommSec we are committed to providing clients with best practice service. We understand how important it is to be able to reach a Client Service Officer when you want to trade shares. Our objective is to ensure 80 per cent of calls are answered within 20 seconds and that the Client Service Officer who takes the call can provide the assistance our clients need."
To register with CommSec, simply call 13 15 19 between 8am and 7pm Monday to Friday.
** Statistics acquired from IRESS
Executive Manager, Media Relations
Group Corporate Relations
Tel: (02) 9378 5965 Fax: (02) 9378 2395