Commonwealth Bank, Australia’s second largest bank, has launched a secondary markets transactional site for trading bonds and commercial paper (CP). The new site is part of the bank’s online institutional banking service called ecommcorporate.
Commonwealth launched ecommcorporate in 1999, offering foreign exchange, cash accounts and payments on its multi-product transactional web site. It later increased foreign exchange functionality to include pre-deliveries, extensions and optional dated forwards. In the debt market it also co-launched the first internet channel for the primary execution of new debt issues (wholesale and retail bonds) in Australia.
"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 utilize tools and calculators,” says Peter Prowse, global head of e-commerce Commonwealth Bank Financial Markets, of the new service.
“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 adds.
Commonwealth also says it plans to introduce bank bills, fixed term deposits, FX options and a number of risk management and portfolio analysis tools on ecommcorporate over the coming months.
