OpenMarkets looks to growth
Online trading stockbroker OpenMarkets has declared itself the first company of its type to be launched on the Australian Securities Exchange (ASX) since 2007.
Describing itself as an independently-owned stockbroker specialising in low-cost online trading solutions, OpenMarkets announced this week it was now a full market participant of the ASX, National Stock Exchange of Australia, and SIM VSE.
The announcement said the company had acquired the licence through its purchase of Sydney-based firm Cameron Stockbroking Ltd in May.
It said that, with its own clearing and settlement memberships, OpenMarkets was focused on end-to-end online trading solutions for the retail and wholesale markets and would look to build its client base through partnerships with third party financial services firms.
OpenMarkets chief executive Rick Klink described the firm as a truly independent, low cost brokerage firm.
"While individual and wholesale investors can use the service directly, we also intend to develop and grow the business through an open partnership approach," he said.
"This will see us build relationships and integrate our services with third parties, such as research providers, for the benefit of our mutual clients."
Klink said OpenMarkets was already live with a select group of clients, and would officially launch its retail services soon.
Recommended for you
A strong demand for core fixed income solutions has seen the Betashares Australian Composite Bond ETF surpass $1 billion in funds under management, driven by both advisers and investors.
As the end of the year approaches, two listed advice licensees have seen significant year-on-year improvement in their share price with only one firm reporting a loss since the start of 2025.
Having departed Magellan after more than 18 years, its former head of investment Gerald Stack has been appointed as chief executive of MFF Group.
With scalability becoming increasingly important for advice firms, a specialist consultant says organisational structure and strategic planning can be the biggest hurdles for those chasing growth.
