Exclusive: CMC Markets in perfect position to launch deeper into institutional segment

Maria Nikolova

“In terms of pre-tax profit, we are just shy of £50 million this year, so it’s a pretty good place to be launching deeper into the institutional setup”, says Richard Elston, Head of Institutional at CMC Markets.

Leading online financial trading company CMC Markets Plc (LON:CMCX) is in the right spot to push further into the institutional segment, said Richard Elston, Head of Institutional at the company. Mr Elston was speaking at the FinanceFeeds London Cup which took place on July 6, 2017, welcoming 70 senior industry executives at the members-only EIGHT MOORGATE club.

Mr Elston first reminded the audience of the early days of CMC Markets when the company was a retail broker and then mentioned the first steps of the company in doing institutional business back in 1996. He emphasized the huge development the institutional offering of CMC has undergone in the course of these years and stressed the importance of the technology building and development.

“In this day and age it is all about technology. It is all about getting out into the market and position yourself in a technological world which we live in.” – Richard Elston, Head of Institutional, CMC Markets.

Mr Elston then provided more details about the CMC PrimeFX offering and the CFD API product.

“The unique position that we found ourselves in is that we are able to deliver top-tier liquidity both from FX perspective and also both from CFD perspective”, he said.

Next, Mr Elston noted that beyond the API, there is CMC’s white-label offering. “It is the ability for us to white label our services to brokers out there. We have enough partners and we are pleased with the feedback – it is a contemporary platform that empowers the broker. You don’t have to contact us for every funding movement or for any administrative movement that you do on a daily basis”, he explained.

He also stressed the importance of CMC Markets’ deal with ANZ Bank in Australia, calling it historic for the company. Under the terms of the deal, after a transition period, CMC is set to service more than 500,000 ANZ retail stockbroking clients under the ANZ Share Investing (ANZSI) brand. During the transition period, CMC will collaborate with ANZ to provide full integration of the platform with ANZ’s product offering, including margin lending, Internet banking and integrated Grow app.

Mr Elston said that over the past 12 months, CMC Markets had faced some challenges, including regulatory ones – some global, and some in the UK, given the new CFD sector rules drafted by the Financial Conduct Authority.

“We have the ability to be flexible when these challenges come along, especially in a white-label environment where we have to be able to adapt the technology in line with regulatory demands”, Richard Elston, Head of Institutional, CMC Markets.

Adding some financial details and hinting at the further focus of CMC on its institutional business, Mr Elston concluded:

“In terms of pre-tax profit, we are just shy of £50 million this year, so it’s a pretty good place to be launching deeper into the institutional setup.”

Image: Richard Elston, Head of Institutional at CMC Markets, delivers a keynote speech before 70 senior industry executives at FinanceFeeds London Cup.

  • Read this next

    Digital Assets

    Celsius founder Mashinsky agrees to shared lawyers with Sam Bankman-Fried

    Former Celsius CEO Alex Mashinsky has addressed potential conflicts of interest in his legal representation during a brief hearing in a New York courtroom.

    Digital Assets

    Sam Bankman-Fried captured in first jail photo

    Sam Bankman-Fried, the once-billionaire founder of FTX, has been spotted looking quite different with a new beard and a slimmer figure in a photo that’s been making rounds, reportedly taken inside New York’s Metropolitan Detention Centre.

    Market News

    Bitcoin stalls at $53,000 level, Ethereum reaches $3,000

    Bitcoin (BTC) faced renewed resistance at the crucial $53,000 level on Tuesday, indicating that the primary cryptocurrency is likely to continue consolidating before making its next decisive move.

    Digital Assets

    UK targets new laws for stablecoins and crypto staking within six months

    The United Kingdom is gearing up to enact fresh legislation regulating stablecoins and crypto staking within the next six months.


    Masa’s Milestones Before Mainnet Launch

    Since its launch in August 2022, Masa, the premier decentralized network for personal data, has experienced rapid growth, securing over 1.2 million unique wallets and accumulating more than 23 million data points. Despite a bear market, the network has attracted over 40,000 node operators to its testnet within just 18 months.

    Digital Assets

    Web3 Greatest Startup Competition Hits $10M in Prizes

    We’re thrilled to announce the return of the highly anticipated Startup Competition at Paris Blockchain Week. With a staggering array of prizes totaling over $10 million, encompassing funding, grants, credits, accelerations, listing, and more, this competition has become a cornerstone event within the blockchain startup ecosystem.  

    Digital Assets

    Hedge fund Tyr Capital faces dispute over exposure to FTX

    Crypto hedge fund Tyr Capital found itself embroiled in a dispute with one of its clients concerning its investment exposure to the bankrupt digital assets exchange FTX, as reported by the Financial Times on Tuesday.

    Retail FX

    Plus500 revenue down to $725 million, unveils $100M share buyback

    Israeli-based, but London-stock market listed Plus500 Ltd (LON:PLUS) today reported its 2023 results, which came “significantly ahead” of analysts’ estimates.


    Strategies for Profiting from Interest Rate Fluctuations

    The world of Forex trading is a complex and dynamic domain where interest rates play a pivotal role in shaping currency values. Octa’s team of financial experts delves into this intricate relationship, providing traders with a comprehensive understanding and strategies to harness economic indicators for enhanced trading performance.