Morrison

Morrison Broker Review - Firm Overview, Trading & Services

Company Overview

Morrison is an Australian stock broking company which focuses its business of providing Institutional or Wholesale White label Trade Execution & Services primarily to Professional Clients or Wholesalers. Established over thirty years ago, Morrison has become a company dedicated to innovation in technology with an emphasis on Platform Agnostic Solutions within the Investment/Trading Industries by providing customized services to Financial Advisors, Wealth Managers, AFSL holders, Broker Dealers and Fintech Platforms. With a heavy emphasis on seamless connectivity, deep access to markets and customized integration solutions, Morrison is a trusted provider to Institutional Traders in Australia.

Established in 1985, Morrison uses their extensive market experience along with modern technology to provide scalable solutions to meet the complex operational requirements of sophisticated market participants.

Company History and Background

Morrison was established in 1985 and is an Australian Securities Exchange (ASX) Participating Organisation since its establishment. It was previously known as BBL Financial Services Limited through ING Group and operates today as part of Sequoia Financial Group Limited (ASX: SEQ).

Morrison is based in Sydney, Australia and focuses solely on execution and clearing of White label stock broking services and has a strong client base that includes Banks, Financial Planners, Fund Managers and Technology-based Trading Platforms. Morrison has an experienced executive team who are the well-established reputation for their reliability, compliance and innovation in the Market.

Products and Trading Services Provided by Morrison

Morrison’s core product offering is its bespoke White label execution & clearing services which are specifically designed to provide appropriate levels of flexibility/scalability to Wholesale clients. The Company provides execution and clearing services for trades done through Multiple Australian Exchanges (ASX, NSX, etc) and also provides access to a diverse range of Equity based platforms.Morrison Technologies offers an array of services that include providing services to the ASX, Cboe Australia, National Stock Exchange (NSX) and Securities Exchange (SSX) to facilitate execution for advanced equities and options trading, assisting with capital raising and Delivery Versus Payment (DVP) settlement, integrating and executing through APIs and Financial Information eXchange (FIX) connectivity, and providing private stock lending solutions.

With over 38,000 active customer accounts and nearly $30 billion in annual trading, Morrison's robust trading environment demonstrates its institutional capabilities and scale.

Morrison provides multiple financial instruments, including the following:

Instrument Type Description

Cash Equities Equity trading of shares listed on Australian stock exchanges

Equity Options Derivatives based on an underlying equity that provide exposure to stock price movements of an underlying company for a specific period of time

Warrants Derivative instruments that allow a holder to purchase an underlying security at a fixed price

Exchange-Traded Funds (ETFs) Investment vehicles that provide investors with diversified investment exposure across various sectors

Exchange-Traded Bonds (XTBs) A type of bond that is listed and traded on a stock exchange

LICs وLITs Investment companies that issue shares to investors for investment purposes; investment trusts that are established to hold a portfolio of assets, typically in the form of an investment vehicle

Global Transfer Applicator (Tracers) An investment product offered by Cboe Australia that gives investors exposure to US-listed stocks via Transferable Custody Receipts

Technology Platform Overview

Morrison is a fully platform-independent brokerage that gives its clients the freedom to utilize any providers' systems for order entry and execution. The following order entry systems are compatible with Morrison's technology:

* IRESS (Viewpoint, Web, Pro).

* TradeCentre (Bourse Analyser, TC Web, TC Wealth).

* TradeFloor for options trading.

* Refinitiv Eikon

* Bloomberg's EMSX platform

Morrison provides Fixed Income, Web services, and other technology connectivity options.

In addition to executing trades, Morrison also has a range of front-office advisor portals, account reporting tools, and a clearing and settlement infrastructure through FNZ technology, which guarantees low-latency execution and enterprise-grade performance.

Morrison is an Australian Market Participant and is regulated by the relevant authority in Australia. Each of Morrison's exchange memberships verifies Morrison's regulatory compliance. Morrison uses unique AFSL numbers with each exchange to ensure that its service offerings areAustralian Securities Exchange (ASX) Participating Organisation / Market Participant Operation date: 1985

Cboe Australia Market Participant / Member Operational

National Stock Exchange (NSX) Market Participant / Member Operational

Sydney Stock Exchange (SSX) Market Participant / Member Operational

Trading Conditions and Execution

Morrison offers only Customised Wholesale Trading Conditions and does not offer Standard Retail Trading Conditions Therefore, information regarding Spreads, Leverage and Minimum Deposits are not published.

Feature Information

Spreads Very Limited

Leverage Very Limited

Minimum Deposit Very Limited

Execution Speed Low Latency

Platform Support Iress, TradeCentre, TradeFloor, Refinitiv (Bloomberg), FIX/API

Fee Structure

Morrison does not disclose the specific Fee Structure because of the nature of Morrison's Business to Business (B2B) and White Label models. Fee structures are normally negotiated with each client.

Fee Type Information

Deposit Fees Very Limited

Withdrawal Fees Very Limited

Commission Very Limited

Inactivity Fees Very Limited

Market Reputation and User Experience

Morrison has a good reputation in the market for being Reliable, executing well, and providing a Flexible Platform. Because of the focus of their business model on wholesale services, there are limited customer reviews, however there are numerous industry sources that regularly refer to Morrison as a Reliable Trading and Advisory Partner for Professional Trading and Advisory Firms.

Recent Developments

On the 15th of November 2024, Morrison partnered with ViewTrade, to create one of Australia's first Plug and Play Global Trading platforms. Morrison's Trading platform will allow access to 15 countries and global equities, options, fixed income and ETFs through one KYC process.

The solution will provide both fully disclosed and omnibus account models and will save approximately $240 million per annum in efficiencies for the entire trading industry. This innovation confirms Morrison's commitment to Innovation and Global Market Access.

Conclusion

Morrison is a veteran Australian Stock Broker with a rich heritage, Institutional Grade Infrastructure, and an unwavering commitment to White Label and Wholesale Trading Solutions. The Broad Instrument Coverage and Multi-Exchange Access along with Flexible Technology, provide an ideal choice for AFSL Holders, Financial Advisors, Wealth Managers and Broker Dealers.

Despite limited publicly available Fee and Trading Condition Details, Morrison will continue to provide their Clients with Bespoke services and Access via Regulatory Exchange Memberships, while Promoting their Business as a Reliable and Innovative Execution Partner within the Australian Financial Services Market.