Haydn Franklin Haydn Franklin, Friday 3rd April 2020, 10:38 AM CEST
CMC Markets, cfd net trading revenue

A recent trading update from CMC Markets for its period ending March 31st revealed that the company experienced high levels of net revenue during the fourth quarter of last year.

A provider of institutional (B2B) platform technology solutions and online trading, CMC Markets has so far posted net revenue profits for all its business, with particular income being generated with the companies CFD business. It posted a gross client income result of almost £241 million. This was an 11.6% increase over 2019 results of £216.0 million.

CMC Markets stated that the increase was resultant on a strong underlying performance in its business thoughtout the year so far. This was further fueled by a fourth quarter that saw activity increase as result of the coronavirus pandemic.

Based on CMC Markets news release, the increase in activity during the first quarter of 2020 has more than covered the reduction in client trading relating to the intervention measures by the ESMA that took effect in August of 2018.

YoY Growth and CFD revenue Expected to Hit 94.2%

Due to this, the company expects to see its CFD net trading revenue coming in close to £214 million. This would represent almost double its £110.2 million CFD net trading revenue in 2018. Commenting on the recently released results, Chief Executive Officer, Peter Cruddas, said “At CMC we have focused rigorously on our strategic priorities and feel that the benefit of this focus has started to come through in our performance this year which demonstrates a step change from where we were 12 months ago.

Cruddas continued stating,”Looking forward, there are many new uncertainties, including how governments, regulators and exchanges will react. Notwithstanding the uncertainty we remain confident in the outlook for 2021 as we progress with our numerous strategic growth initiatives. We’re not reliant on a sustained period of high volatility in markets, but our well invested platform, technical expertise and diversified offering supports us delivering sustainable results not just now but also in years to come.”

Haydn Franklin

Author: Haydn Franklin

Hayden joined whichbroker.com in March 2019. He previously held positions at leading US facing financial news outlets. Hayden's focus is primarily Crypto and Forex news at whichbroker.com, however he is also whicbrokers long form content specialist leading him to write longer posts with an investigative angle. Hayden gradutated from the University of Chicago. Haydn Franklin can be contacted at [email protected], View all posts by Haydn Franklin

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