ANZ today announced an agreement with CMC Markets to provide a market leading share trading solution to customers under the ANZ Share Investing brand.
The agreement reflects a continued focus by ANZ to simplify its business and it is expected customers will transfer to the new platform by September 2018. ANZ will decommission its current trading platform following customer migration.
ANZ Managing Director Pensions and Investments Peter Mullin said: “CMC Markets is well- known for providing market leading technology to its customers both in Australia and globally.
“Share trading remains an important customer proposition for ANZ and this agreement will allow our customers to trade easily and securely when and where they want on a world- class platform. CMC Markets has also committed to working with ANZ to bring new and innovative features to our customers.
"For now it's business as usual for our customers who will access the same share trading platform they have always used and we will continue to manage their deposits once they transfer to the new system,” Mr Mullin said.
As part of the agreement, ANZ will continue to manage and provide existing investment lending and cash management solutions.
ANZ will work with CMC Markets to identify opportunities for its existing ANZ Share Investing employees.
Headquartered in London and listed on the London Stock Exchange, CMC Markets has operations in 14 countries and is a leading provider of online trading both for retail and institutional customers.
The financial impact of the agreement and costs associated with decommissioning the ANZ platform are not material to the Group.