This partnership follows the launch of Refinitiv’s new Wealth Order Management solution in the Australian market targeting retail brokers, investment advisors and wealth managers.
The 2017 ASX survey of Australian investors showed that 75 percent of Australian shareholders hold only domestic stocks, indicating they are underweight in international stocks. PhillipCapital highlighted several contributing factors, such as barriers to accessing international markets and the cost of obtaining global data to support decision-making, which has historically been relatively expensive.
Through this partnership, Refinitiv’s Eikon platform, combined with PhillipCapital’s extensive network of global execution connections, facilitates trading in Australia and on more than 17 international equity exchanges.
Using Eikon, PhillipCapital advisors and professional clients can now place orders directly in Australian and international HIN-based stocks using a single account. All transactions are settled into their cash management bank account, making it a one-stop solution.
“Combining Eikon’s powerful advisor platform with our execution capabilities has been key to extending PhillipCapital Australia’s wealth management solution to our internal advisors, external intermediaries, traders and fund managers,” said John Miles, CEO of PhillipCapital.
“Together with Refinitiv, we have significantly reduced barriers to international trade and can truly customize a global trading platform for our clients at a competitive price. This solution will expand our target market and extend to the entire Australian customer base, and we are excited about the year ahead.
Daryl Sisson, Refinitiv’s Pacific Managing Director, said the announcement is a great example of how the company is partnering with its customers to deliver open platform solutions that meet their evolving needs and enable trade and commerce. smarter investments.
“We are in a unique and exciting position to help drive the evolution of the Australian consulting market,” Mr Sisson said.
