CMC Markets CEO Peter Cruddas is one of London’s most important advocates who has dedicated his career to London’s capital markets economy
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Instead of focusing on the undifferentiated heavy lifting of managing servers, by using AWS CMC Markets has freed up valuable development hours
Interestingly, CMC Markets’ venture with ANZ accounted for 63% of the division’s revenues in H1 2020, contributing £19.20 million in sterling terms and the group hopes to expand this business further with the launch of dedicated stockbroking app planned in the fourth quarter
CMC Markets’ share price has rocketed, creating a dividend of 9.2p per share, up a tremendous 223% over last year’s interim dividend.
“We have invested heavily in streamlining our own technology, building a low-latency, multi-asset liquidity solution as a result” said Richard Elston, Head of Institutional at CMC Markets
These shares will rank pari passu with the existing issued ordinary shares of the Group.
Almost 10,000 instruments across multiple asset classes to be made available
A trading update for the July-August 2020 period says strong performance continues.
Brendan Foxen was previously CTO of Contino and helped turning the consultancy into a global entity.
Net operating income for Q1 2021 is in excess of that reported for H1 2020 of £102.3 million.
Net operating income for the year to end-March 2020 increased by 93% to £252 million, mainly driven by significantly improved CFD trading revenue.
“Celer Tech’s deployment of the Direct API feed allows our prices for almost 10,000 different instruments, covering a range of indices, commodities, FX pairs, treasuries and singe stock CFDs to be integrated with wider pools of liquidity for those clients who elect to use this service” says CMC Markets’ Richard Elston
The broker has experienced continued high levels of client trading activity since the beginning of March which has been in excess of double that seen in more normalised market conditions.
The recent market conditions experienced have seen heightened trading activity amongst CMC’s clients over and above the strong performance delivered to date.
Net operating income continued to outperform expectations in the quarter to end-December 2019, the brokerage says.
In a refinement of the provision of service to banks, brokers, hedge funds and trading desks, CMC Markets announced today that it has partnered with Your Bourse to offer its liquidity services through Your Bourse Liquidity Hub.
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Profit before tax jumped 318% year-on-year in the six months to end-September 2019.
Euan Marshall will join the Board as Chief Financial Officer with effect from November 1, 2019.
