This week marks a significant milestone in my life as I celebrate 35 years in the financial markets. It all began in January 1990 when I embarked on my journey as a junior at KJ Polkinghorne in Sydney. Under the guidance of some of the best in the business, I quickly learned the ropes of how brokers operated.
The 90s were a transformative period for me. I transitioned to a role on the Sydney options trading floor, where I managed order flow for interstate brokers in some of the most actively traded stocks. It was here that I had the privilege of working alongside industry legends like Richard Toohey, one of the first market makers when options trading started in Australia.
When the trading floor eventually closed, I shifted my focus to client advising. I set up and managed some of the largest options trading desks for various firms. In 2006, I moved to the Gold Coast and continued to advise clients. By 2013, I had established iInvest Securities, which has since grown into one of the top exchange-traded options firms in the local market.
My passion for financial markets remains as strong as ever. Reflecting on the early days, I remember when commission rates were fixed on a sliding scale, and very few individuals bought shares. This changed dramatically in the mid-90s when brokerage rates started to fall, and stamp duty was removed from share trading.
Back then, trading options were limited to about 35 stocks, and long-only equities trading was the norm. Today, there are countless trading products and avenues for clients to access the market. Despite these changes, one thing remains constant: the need for clients to find a broker who understands their goals and can suggest ways to achieve them.
Technology has been one of the most significant changes in my career. From the days of open outcry floor trading, we moved to screen-based trading at the end of the 90s. This shift allowed for better price reporting and client communication, contributing to the growth of the options market. While I miss the camaraderie of the old floor trading days, the move to screens has enabled us to work more efficiently and flexibly.
Throughout my career, I’ve made many great friends and learned from some incredible people. My first boss, Danny O’Brien at Polkinghorne’s, was instrumental in my early development. In the early 2000s, I worked alongside Te Okeroa, and now I support him as he strives to improve market operations for all clients. I’ve even had the pleasure of working with Danny’s son, Graham, who champions the options market from his role at the ASX.
As I look back on these 35 years, I feel grateful for the experiences and relationships that have shaped my journey. The financial markets have evolved tremendously, and I am proud to have been a part of this dynamic industry.
DISCLAIMER: This Market update has been prepared by the Trading Desk and is not intended to be a research report. We believe this information is correct at the time of its compilation however no warranty is made as to its accuracy, reliability, or completeness. We cannot guarantee the performance or return on investments and those acting on this information do so at their own risk. The information is of a general nature, for the recipient’s information only and has been prepared without considering any particular individual’s investment objectives, financial situation or particular needs (“relevant circumstances”). Before acting on this information, you should carefully consider the appropriateness of it having regard to your own relevant circumstances and if you require advice regarding any aspect of the information and statements of opinion set out in this document, particularly as to whether you should base an investment decision upon it, please contact your financial adviser
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