News Room

HSBC UPGRADES STOCKBROKING SERVICE

2 May 2003

HSBC today launched its new stockbroking service, including fully integrated banking and wealth management, targeted at sophisticated investors and frequent traders. HSBC offers a comprehensive financial services marketplace providing competitive pricing, dynamic data, online contract notes and independent research.

HSBC has also introduced a new customer loyalty program geared to Frequent Traders, with tiered brokerage rates, starting as low as $19.95 for trades up to $10,000¹ and free dynamic data for Platinum clients. Additionally, Frequent Traders will have access to stock recommendations, research analytics and 'best ideas' with recommendations.

Stuart Davis, Chief Executive Officer of HSBC in Australia, said: "The market is ready for access to an advanced broking offering following further recent industry consolidation.

"Not only do customers want the right tools and information to make sound investment decisions, they want access to global strength from a bank such as HSBC that has a strong commitment to Australia.

"HSBC continues to build a direct financial services offering that provides both convenience and value. We've maintained our commitment to service, ensuring customers can more effectively manage their wealth by providing fast and efficient access to an integrated suite of financial services," he said.

Unique in the marketplace, HSBC's new stockbroking service provides customers with single password and login access to manage their total financial wealth such as savings and cheque accounts, shares, managed funds and loans including home, margin and car loans. Customers are also able to record their other assets and liabilities such as their house, investment properties and motor vehicles with HSBC's wealth management summary.

"With our multi-product offering customers can easily achieve total control over their investments and have a consolidated view of their total wealth," Mr Davis said.

HSBC stockbroking customers will have access market-leading independent research from Aegis Equities Research.

Other new features include a Warrants Resource Centre, offering pricing and specialised Warrants research. HSBC will also offer options trading on the ASX by 3rd quarter this year.

HSBC's new loyalty program is unique to the Australian marketplace. HSBC takes into consideration more than just the number of trades a customer conducts online, but also those trades made over the phone, international trades, brokerage value and HSBC Margin Loan status as parameters to determine a customer's loyalty status.

The formation of HSBC Stockbroking completes the integration of the Australian operations of Merrill Lynch HSBC into the Bank, announced on 18 July 2002. Effective midnight on 3 May, 2003 HSBC Stockbroking will no longer use the MLHSBC brand name or provide Merrill Lynch equity research.

HSBC Stockbroking (Australia) Pty Ltd is a participating organisation of the Australian Stock Exchange.