Magellan-backed Finclear set to lose CommSec as client
Magellan-backed FinClear likes to say it “touches one in two retail transactions in Australia”. No more, it seems, with its key client, Commonwealth Bank’s share trading giant CommSec, seeking a replacement.
FinClear CEO and founder David Ferrall. Kate Geraghty
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Magellan-backed Finclear set to lose CommSec as client
CommSec is running a request-for-proposal to select a new vendor to replace FinClear’s iBROKER, a post-trade system for equities and derivatives.
Listed manufacturing player Amaero upsizes raise
The company’s initial ask was for $20 million, but it received bids for nearly $45 million, sources said.
Canberra Data Centres in partner search with $16b enterprise valuation
That punchy valuation has been signed off by the board, along with the required financial modelling, due diligence materials and an information memorandum.
Elon Musk’s Tesla hangs up for-sale sign at SA virtual power plant
Sources said Tesla has proven the model and is now ready to hand the keys, but would continue to install and manage the batteries for the new owner.
Morrison & Co mulls selling Perth Airport stake; TIF, ART tipped to join
Of note, Morrison & Co’s decision to sell could set off a domino effect on Perth Airport’s register.
