CMC Markets reports continued high levels of client trading activity since beginning of March

Maria Nikolova

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.

Online trading services provider CMC Markets Plc (LON:CMCX) today issued a trading update for the period from March 1, 2020 to March 19, 2020.

The heightened trading activity experienced at the end of February and highlighted in the trading update issued earlier in March has continued this month. The Group has experienced continued high levels of client trading activity since the beginning of March – this activity has been in excess of double that seen in more normalised market conditions in both CMC’s CFD and stockbroking businesses. During the period the retention of client income has remained strong.

This leads the Board to expect to deliver net operating income ahead of current market consensus for the year ended March 31, 2020 with nine trading days remaining in the financial year.

As at March 19, 2020, the Group compiled full year 2020 consensus is as follows:

  • Net operating income of £219.0m, ranging from £217.9m to £220.1m
  • Profit Before Tax of £72.9m, ranging from £71.0m to £74.4m

Peter Cruddas, Chief Executive Officer, commented:

“During these worrying times we are supporting our staff to stay safe by working from home. Due to our long-term investment in technology, we can effectively run this business from home and from our disaster recovery sites in Hertfordshire and Sydney, and that is what we have been doing this week.”

“I am pleased to say that our technology infrastructure has held up well, including our B2B and stockbroking platforms, despite record trades in the underlying markets and exchanges,” Mr Cruddas added.

CMC expects to announce its pre-close trading update for the year ended March 31, 2020 on April 3, 2020.

Read this next


BlockDAG’s $28.5M Presale Ignites Investor Frenzy! Dashboard Upgrade Unveils Top Rankings, Overshadowing Retik Finance Listings!

Learn how BlockDAG’s updated dashboard, featuring detailed community rankings, is diverting investor interest from Retik Finance’s anticipated market entries.

Digital Assets

Gala Games reportedly hacked for $200 million, token nosedives

The native token of crypto gaming project Gala Games (GALA) dropped sharply amid rumors of a massive transfer worth over $200 million that traders suspected might be a hack.

Digital Assets

Ether skyrockets amid rumors of spot ETF approval

The chances of the U.S. government approving spot Ether ETFs have increased, according to top Bloomberg ETF analysts. Initially viewed as unlikely, analysts James Seyffart and Eric Balchunas now see a 75% chance of approval, up from 25%, following recent developments.

Digital Assets

New York judge approves $2 billion settlement with Genesis

A New York bankruptcy judge has approved a $2 billion settlement between the New York State Attorney General’s office and crypto lender Genesis, marking the largest settlement against a crypto firm in the state’s history.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, ECB, Geopolitical Tensions, May 20 ,2024

Fed holding rates to fight inflation, ECB likely cuts June rates, geopolitical tensions favor safe-haven USD

Digital Assets

Grayscale CEO steps down, replaced by Goldman Sachs veteran

Grayscale CEO Michael Sonnenshein after 10 years with the digital asset investment firm, the company said on Monday.


Influencers Fuel BlockDAG’s $28.4M Presale Amid Solana Price Surge & Kaspa Bull Run

Dive into BlockDAG’s presale success, boosted by influencer endorsements. Explore the Solana price surge and Kaspa’s bullish sentiments.

Market News, Tech and Fundamental, Technical Analysis

EURGBP Technical Analysis Report 20 May, 2024

EURGBP currency pair can be expected to fall further toward the next support level 0.8525, which is the low of the previous corrective wave ii.

Digital Assets exec arrested for $1.9 million exploit, claims bail in UK

Jarett Dunn, a former employee of the memecoin creator and trading platform, claims he was arrested and subsequently released on bail in the United Kingdom following a $1.9 million exploit on the platform.