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CMC Invest, the second largest retail stockbroker in Australia, has announced a strategic initiative to overhaul its post-trade operations in New Zealand. The move sees the broker partnering with Contemi Solutions to implement the NOVA Post Trade Settlement and Clearing platform, as CMC aims to become a full trading and clearing participant of NZX and NZClear.
This development marks a significant step in CMC’s broader strategy to expand its business footprint and enhance its client offering in New Zealand, a market where the company intends to bring its established brokerage model.
Andy Rogers, Director of Stockbroking, CMC
Andy Rogers, Director of Stockbroking, CMC, commented: "At CMC, our ambition has always been to combine innovation with a deep commitment to our clients. As we scale our presence and streamline operations, this transformation is about more than upgrading systems. We are future-proofing our capabilities to meet the growing demands of retail investors, including support for 24-hour trading, multi-time zone operations, and broadening investment options for clients."
“This strategic initiative is a reflection of CMC's long-term vision to continually evolve in a dynamic regulatory and market environment,” Rogers added. “We are excited about what this partnership will unlock for our clients and our business.”
As part of its New Zealand expansion, CMC will introduce a model of direct ownership for clients through Common Shareholder Numbers (CSNs). This approach mirrors the Holder Identification Number (HIN) framework familiar to Australian investors, offering New Zealand clients enhanced transparency, control, and security over their assets.
Gaurav Mehta, CCO, Contemi Solutions
Gaurav Mehta, CCO, Contemi Solutions, said:
“CMC Invest is setting a bold example of how established firms can lead from the front in embracing digital change. We're proud to support their journey and honoured to be part of a partnership that's rooted in shared ambition and trust. With this partnership, we continue to focus on and invest in the Oceanic region and support its continued growth.”
CMC Invest’s transformation comes as the firm looks to position itself for sustainable growth, leveraging operational agility and innovation to deliver greater value to clients across global financial hubs.
