With effect from 9 December 2024 or such later day as notified to you by Macquarie (the “Effective Date”), Macquarie will be moving its client facing cash equities services in Asia Pacific region to Macquarie Financial Limited (‘MFL’)
Macquarie Financial Limited was incorporated in Australia on 21 February 2007.
MFL is the non-bank holding company of Macquarie Group and is in the process of applying for an Australian Financial Services Licence ("AFSL") with the Australian Securities & Investment Commission (“ASIC”) which will be finalized and communicated to you prior to the migration.
Clients previously contracting with Macquarie Securities (Australia) Limited (‘MSAL’) will then face MFL as the broker of cash equities trades. Australian domiciled clients will continue to face MSAL for domestic Australian equity transactions only.
Other than the change of legal entity, there will be no material change to the service you receive from Macquarie. Commission rates will remain unchanged, and you will continue to deal with the same people, and receive the same high standard of research, sales and execution services from Macquarie throughout the region.
For further information please visit the About us section of the website. For further information, please see the FAQ section, or contact us directly via email.
In order for Macquarie to continue to provide relevant services to your organisation, we request that your organisation:
We will further inform you upon the granting of the AFSL to MFL by ASIC on how to acknowledge and accept the changes proposed.
You may consider this communication as formal notice of termination by MSAL of the existing Terms of Business (and, if applicable, the Electronic Execution Agreement) between you and MSAL, which will take effect on the Effective Date.
If you have any questions on the MFL Terms, other changes or the transfer of data, please contact us by return email as soon as possible and in any event prior to the effective date. Your organisation can also provide consent to the MFL Terms by conduct if your organisation elects to place an order with us on or after the effective date. In other words, if your organisation has not acknowledged the new terms but continue to trade with us, such continued trading will be deemed to be your organisation’s consent to the items set out above.
With effect from 9 December 2024 or such later day as notified to you by Macquarie, subject to completion of relevant licensing approvals Macquarie will be moving its client facing cash equities in Asia Pacific region to Macquarie Financial Limited (‘MFL’).
As part of a wider internal review Macquarie Capital Equities have identified a more optimal and efficient design of its Asia Pacific (APAC) booking hub from a capital and entity structuring perspective.
The move from MSAL to MFL will provide the added benefits of a more substantial balance sheet, a superior credit rating and an enhanced existing service offering and will provide a foundation for additional potential service offerings in the future as the revised structure will also support greater alignment and synergies with the Equity Derivatives businesses of Macquarie.
No. Client facing activities of the cash equities business currently performed by MSAL will be migrating across to MFL. The exception is domestic market trading activity for Australia domiciled clients who will continue to face MSAL in this limited capacity.
Yes. There will be no change to the way your relationship with Macquarie is managed. All our front, middle and back office contact points will remain unchanged.
Yes. Macquarie will continue to offer the same extensive range of products and solutions to its clients.
MFL carries a Standard & Poor’s Long Term rating of BBB+. For more financial information on MFL please click here.
If you trade Australian stock, the clearing and settlement will be conducted by Macquarie Bank Limited and you will face the credit risk of Macquarie Bank Limited. If you trade any other stock, you will face MFL from a credit risk perspective and have recourse against MFL.
If you previously contracted to MSAL for participation in the Commission Sharing Agreement scheme you will now contract to MFL going forward. Any Macquarie entity may arrange for the payment to your provider. By accepting the new terms, the Commission Sharing Agreement will be transferred to MFL (with the consequential amendments noted above) at the same time. Note our commission sharing aggregator will remain held by MSAL until advised at a future date.
MFL will have access to client and personal data in order to fulfill their know-your-client obligations. MFL is subject to Macquarie’s privacy policy and your data would be kept within Macquarie in the same manner unless we notify you otherwise.
No. This will not be affected.
Yes. Updated settlement instructions will be distributed prior to the effective date.
These two markets are ID markets, and clients who trade direct on their own ID will continue to face our onshore brokerage entities in these markets.
