Who are Openmarkets and Macquarie?
As outlined below, there are number of parties involved in the transmission, execution and settlement of your orders.
Marketech engages Openmarkets Australia Limited to facilitate the trading and settlement of transactions from your account. This means that Openmarkets acts as your agent in relation to the execution of your orders. Marketech act as intermediary by communicating your orders, via the Focus platform, to Openmarkets.
Openmarkets are:
- An Australian Financial Services Licensee (AFSL 246705);
- A Market Participant of ASX, Cboe and NSX; and
- An ASX Clear and Settlement Participant.
Marketech utilises Macquarie Bank Limited to provide linked banking services to our clients. As at November 2021 Macquarie had a market capitalisation of $77.68 billion, eclipsing that of ANZ Bank's $76.87 billion, which places Macquarie among the big four banks in Australia. The banking relationship is directly between you and Macquarie, however Openmarkets are assigned third-party authority in order to be able to settle directly to, and from, your Macquarie bank account.
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