FIIG launches online corporate bond portal
Fixed income broker FIIG Securities has announced the launch of an online ordering system for buying and selling corporate bonds in the over-the-counter market.
Claiming it is Australia's first online ordering system, FIIG said clients and financial advisers can use the system to scour through different bonds, access research on each bond, and make buy or sell requests at any time.
Clients can log in to their MyFIIG client portal, browse through the selection of bonds, and set up portfolios based on FIIG's model analysis and add them to the trade request list.
FIIG chief executive officer Mark Paton said the service came about as there was demand for investing online but this route was not available for over-the-counter bonds.
"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," Mr Paton said.
FIIG launched its DirectBonds service in 2010, and cut the minimum parcel size for corporate bonds from $500,000 to $50,000. In 2013, it cut the minimum parcel again to $10,000.
AUTHOR
Malavika Santhebennur
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