Press releases
Suncorp and CMC Markets enter new partnership for online share trading
Sydney - 13 August, 2009
Leading financial services organisation Suncorp and independent online broker CMC Markets today announced a new partnership for online share trading. The alliance gives 13,500 Suncorp investors access to market leading online share trading services while adding further scale to CMC Markets' growing stockbroking business.
CMC Markets' superior technology and trading interface, combined with the shared commitment of both companies to customer service, investor education and product innovation were the primary drivers behind Suncorp's selection.
Suncorp Executive General Manager of Personal Customer Development, Tim Buckett said the partnership reflects the company's desire to help more customers take the first step towards investing in shares.
"We have a growing customer base that is trading online. We wanted a product that provided the best tools and education so as to make investing accessible.
"Cost effectiveness was also a consideration and this partnership enables us to offer customers comprehensive investment research to support their investment decisions, at no extra cost.
"In addition to the new look platform, we will also introduce a linked cash management account with no monthly fees and a highly competitive interest rate, which will help our customers achieve their investment goals earlier," Mr Buckett said.
Barry Odes, Head of CMC Markets for Australia and New Zealand said the partnership strengthens CMC Markets' presence in the wholesale stockbroking sector and is one of many the company hopes to forge.
"This is an important partnership for us and we look forward to working with Suncorp to deliver an exceptional broking service and unparalleled share trading education facilities to their customers.
"We continue to receive positive feedback from a number of potential partners. The flexible nature of our technology is proving to be particularly attractive as it means our trading platform can seamlessly integrate with our partners' systems, allowing them to offer one stop shop solutions to their clients.
"Being non-bank aligned also makes us the natural partner for many financial institutions as we aim to further grow this segment of the stockbroking business," Mr Odes said.
About Suncorp
The Suncorp Group is one of Australia and New Zealand's largest diversified financial services providers, supplying banking, insurance and wealth management products to around 7 million customers through well-established and recognised brands such as AAMI, Australian Pensioners Insurance Agency, Shannons, Vero, Asteron and Tyndall, as well as Suncorp and GIO.
Suncorp is Australia's fifth largest bank and second largest domestic general insurance group, with over 17,000 staff. Suncorp has representation in 450 offices, branches and agencies throughout Australia and New Zealand.
About CMC Markets
CMC Markets, a leading independent online broker, offers a range of investment products and investment tools including shares, Contracts for Difference (CFDs) options, listed managed investments, warrants, interest rate securities and managed funds.
CMC Markets is a pioneer of CFD trading in Australia and the leading provider of CFDs globally. With offices in London, Frankfurt, Dublin, Madrid, Vienna, Sydney, Tokyo, Toronto, Beijing, Auckland, and Singapore, CMC Markets represents clients in over 70 countries. The company was founded in 1989 and is authorised and regulated by ASIC in Australia. CMC Markets Stockbroking has more than 10 years of experience servicing Australian investors and is a participant of the ASX Group.
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