What Morrison Securities Pty Ltd does

Morrison Securities Pty Ltd is an Australian execution, clearing, and settlement broker-dealer established in 1985 (formerly BBL Financial Services Limited within the ING Group; ABN 50 001 430 342, AFSL 241737). The firm operates as a Market Participant on the ASX, Cboe Australia, and NSX, and reports scale metrics of approximately $6 billion in Assets under Administration, $3 billion in monthly equity trading volume, and 40,000 active trading clients. Headcount is concentrated in the 11-50 band.

The company's core offering is multi-venue equity and options trade execution combined with clearing, settlement, and stock lending. The technical stack centres on a Smart Order Router that connects to all three Australian exchanges, FIX/Webservices/API connectivity for institutional and developer clients, FNZ clearing, and Iress connectivity. Morrison exposes these capabilities through multiple front-end platforms (Iress, TradeCentre, TradeFloor, Refinitiv, Bloomberg Terminal) and a white-label platform targeted at AFSL holders and adviser groups. The firm additionally acts as a DVP settlement broker for listed-company capital raisings, evidenced by transactions such as a $45M Westgold Resources raise.

The business model is transaction-based: revenue is generated from brokerage commissions on equity and options flow, clearing and settlement fees, stock-lending economics, and DVP settlement fees on primary-market raisings. Customers are organised into two primary groups — financial advisers and wealth managers (AFSL holders, including via the white-label channel) and fund managers/traders/high-net-worth clients — with a secondary fintechs and developers segment reached through API connectivity. A global broker partnership extends Morrison's effective distribution into international trading access for Australian clients without the firm itself holding overseas exchange licences.

Name

Morrison Securities Pty Ltd

Legal name

Morrison Securities Pty Limited

Website

https://morrisonsecurities.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Morrison Securities is an Australian broker-dealer (ASX, Cboe Australia, NSX Market Participant since 1985) providing execution, clearing, stock lending, and DVP settlement to advisers, wealth managers, fund managers, traders, and fintech clients.

Ownership category

akta.pro rank

Product category

Securities Brokerage Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Agency Equity Execution (Cash Equities) (FSACAFAA)

akta.pro secondary industries

Clearing Broker / Carrying Broker (FCM & Clearing) (FSAEACAF), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Equity Prime Brokerage (Custody, Financing & Services) (FSACAFAB)

Keywords

• Equities trading services
• Options trading clearing
• White label brokerage
• Stock lending services
• Capital raising settlement

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Trading and Clearing Services: Transaction-based revenue from equity and options trading execution and clearing services across ASX, Cboe Australia and NSX exchanges
2. Stock Lending: Revenue from stock lending allowing clients to short sell, with access to large inventory of stocks for intra-day and longer term borrowing
3. Capital Raisings: DVP settlement services for capital raisings and IPOs, acting as settlement broker for equity capital transactions

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Morrison Securities is an ASX, Cboe Australia and NSX Market Participant providing seamless, cost-effective trading and clearing services for equities and options across Australian exchanges. The company delivers a 100% platform-agnostic solution supporting Iress, TradeCentre, TradeFloor, Refinitiv, Bloomberg Terminal, and FIX/API connectivity, with FNZ-powered clearing and settlement. It offers white-label trading infrastructure for financial advisers and AFSL holders, direct execution services for fund managers, traders and high-net-worth clients, and API-based market connectivity for fintech platforms.

Product overview

Morrison Securities is an ASX, Cboe Australia and NSX Market Participant providing a white-label trading solution platform for the Australian equities and options markets. The core offering includes equities and options trading with a suite of technology platforms including Iress, TradeCentre, TradeFloor, Refinitiv, and Bloomberg. The platform provides Smart Order Routing for accessing multiple trading venues, Direct Market Access, algorithmic trading solutions (VWAP, TWAP), and stock lending for short selling. Services span trading, clearing and settlement via FNZ technology, capital raisings, and international market access through a global broker partnership. The platform offers dedicated solutions for Financial Advisers/Wealth Managers (with FNZ Front Office portal), Fund Managers/Traders/High Net Worth clients, and Fintechs/Developers via APIs. The company supports cash equities, equity options (single stock and index, Level 1 and Level 2), warrants, ETFs, exchange traded bonds, LICS/LITs, and Tracers.

Differentiator

Problem solved

Functional benefit

Products and services

• Equities Trading Cash equities execution across ASX, Cboe Australia, and NSX with Smart Order Router routing across dark and lit venues for financial advisers, fund managers, traders, and fintech platforms.
• Equity Options Trading Exchange Traded Options (ETO) trading for single stock and index options at Level 1 and Level 2, offered through TradeFloor platform for options trading and risk management. Morrison acts as Product Issuer under DDO.
• Stock Lending Stock lending solution enabling clients to go short intra-day and for extended periods, with access to a large inventory of stocks at competitive rates.
• Capital Raisings Full DVP (Delivery Versus Payment) settlement service for capital raisings and IPOs, including liaising with exchanges, managing settlement, and working with brokers for successful outcomes.
• International Trading Partnership with a global broker enabling clients access to equity markets beyond Australia.
• White Label Trading Solution Bespoke white-label solution for businesses providing Financial Advisers, Wealth Managers, Active Traders, Fund Managers and Fintech platforms with end-to-end trading infrastructure including client sponsored HINs, segregated Client Trust Accounts, and branded client-facing documentation.
• Market Connectivity API High-Availability, Low-Latency APIs for fintech companies and platform developers enabling trade execution with access to streaming market data; choice of APIs, Web Services or FIX connection with integration testing and support.

Quantifiable outcome

• $6B Assets under Administration
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core.

• FNZcoreTechnology or IntegrationFNZ provides market leading technology for shares and DCA clearing and settlement. Morrison utilizes FNZ technology for their back-office operations and adviser portal (Front Office) for client account viewing and reporting.
• IresscoreTechnology or IntegrationFull suite of Iress products for market connectivity and low latency trading. Iress platforms supported include Viewpoint, Web, Pro, as well as Iress ETC for bookings and allocations.
• RefinitivcoreTechnology or IntegrationEikon platform supported for trading. Part of Morrison's platform agnostic approach providing multiple platform options for clients.
• Bloomberg TerminalcoreTechnology or IntegrationBloomberg Terminal EMSX supported for trading. Part of Morrison's multi-platform strategy offering clients choice of trading interfaces.
• TradeFloorcoreTechnology or IntegrationTradeFloor Options Trading and Risk Management platform supported. Enables options trading and risk management capabilities for Morrison clients.
• TradeCentrecoreTechnology or IntegrationTradeCentre platforms supported including Bourse Analyser, TC Web, and TC Wealth. Provides order placement, watchlists, and charting capabilities.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Bell Potter Securities: Australian full-service retail and institutional broker offering equities, options, and capital markets services. Comparable ASX member with multi-venue execution and adviser distribution across Australia.
• Ord Minnett: Privately held Australian full-service broker with private client, institutional, and capital markets businesses. Comparable multi-exchange ASX participant serving advisers and wholesale clients.
• Morgans Financial: Australian retail and institutional broker with adviser-focused model and ASX/Cboe Australia participation. Comparable white-label and execution services targeting financial advisers and wealth managers.
• CMC Markets Australia: Global CFD and equities broker with Australian operations offering ASX and international market access with API connectivity. Comparable multi-asset execution and API-first posture for active traders and fintech clients.
• OpenMarkets (Moomoo AU / Futu Securities): Australian retail-focused broker offering low-cost execution across ASX and Cboe Australia with API and white-label infrastructure. Directly competes with Morrison for fintech platforms and self-directed traders seeking Australian market access.
• Interactive Brokers Australia: Global low-cost multi-asset broker with strong Australian market access and API connectivity. Directly competes for active traders, fund managers, and fintech platforms on price and product breadth.

Broad incumbents

• HUB24: Leading Australian white-label investment platform for advisers with integrated trading and reporting. Broad incumbent in Morrison's adviser white-label space, though HUB24 is portfolio-management-led while Morrison is execution-led.
• Praemium: Australian wealth platform providing custody, trading, and reporting infrastructure to advisers. Adjacent incumbent serving the same AFSL-holder distribution channel as Morrison's white-label offering.
• Netwealth: Australian wrap platform with integrated trading and custody for advisers and wealth managers. Broad incumbent in Morrison's adviser white-label distribution space.

Emerging players

• SelfWealth: Australian fintech brokerage offering low-cost self-directed ASX and US equity trading with API integration. Emerging direct competitor for Morrison's fintech and self-directed client segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/morrison-securities

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Morrison Securities Pty Ltd