Hi @nonames12 The term broker (or stockbroker) is used in...

Hi @nonames12

The term broker (or stockbroker) is used in general as anyone licensed to trade on the ASX. In your case, CommSec was the licensed broker. As such, CommSec and other brokers have 10 minutes after official market close to enter, change and cancel orders. If your order, for example, was to buy/sell at market price it will most likely be fulfilled within those 10 minutes.

Some brokers, like Deutsche Bank Asset Management, act exclusively on behalf of institutional investors, others, like CMC and NABtrade, act on behalf of private clients such as companies, trusts, and individuals, while others, like Baillieu Holst and Morgan Stanley, deal with both institutional and private investors. They are all licensed by the ASX and fall under the label "brokers".

Have a great weekend!