Fixed income broker FIIG Securities’ ordering service for corporate bonds will allow users to buy and sell bonds in the over-the-counter market online in an Australian first.
Clients and financial advisers are able to use the system to browse a range of bonds, access FIIG research on each bond and place buy or sell requests at any time.
FIIG chief executive Mark Paton said the service was developed following continued investor demand for access to more direct investments, as well as self-directed research and investing online at their own convenience.
In addition, it continued the firm’s mission to open up the bond market to Australian investors.
“Despite the size of the over-the-counter market, no bond broker has done this before in Australia, so we looked instead to websites like Amazon and other online retailers for a process that was familiar to clients and easy to use,” Paton said today.
“As a result, our system, which is unique in Australia, will make investing in bonds in the over-the-counter market as easy as possible for personal clients and their advisers.”
Investors, particularly SMSFs, were seeking access to direct investments that delivered reliable income streams and capital security in order to protect their lifestyle and retirement, of which bonds were “the gold standard”, he said.
The new online ordering service allowed clients to access the MyFIIG portal, browse for bonds and develop model portfolios based on the firm’s model analysis, and add them to their trade request list.
FIIG then finalised details with clients before processing the trades.
The company has more than $11 billion in term deposits and corporate bonds under advice in its short-term money market, bonds and custody service.
