Democracy comes to the stock markets, Michael McCarthy is the Chief Market Strategist for CMC Markets online brokers, his opinion piece appeared in The Australian this morning: ONLINE broking is a competitive business. Brokers live or die by the value and service we deliver to clients. So improving services is vital to our success. Until recently clients of online brokers were rarely able to participate in initial public offerings (IPOs) or other capital raisings. The largest brokers had the broadest client reach, so companies raising capital had little choice but to use them. Other brokers and their clients were left out in the cold. ASX BookBuild has turned this upside down. Clients of any broker - online brokers included - are now able to obtain stock in capital raisings. Building on other recent ASX innovations, our -clients now have access to a much wider range of investment opportunities. More: (VIEW LINK)
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