25th Jul 2024 11:34
(Alliance News) - CMC Markets PLC on Thursday maintained its annual guidance after a first-quarter that went to plan.
The London-based company is a provider of online trading and investment platforms spanning multiple asset classes, with a retail, professional and institutional offering.
For the year ending in March 31, CMC said it still expects net operating income of between GBP320 million and GBP360 million. In financial 2024, the company reported net operating income of GBP332.8 million, up 15% annually.
"The initial onboarding of Revolut clients has commenced and some clients are now live and trading. Further details will be provided at our half year results in November as the partnership picks up momentum and develops over the coming months.
"This exciting and important partnership reinforces CMC's position as a market leader and innovator in the B2B fintech space through technology and our [application programming interface] ecosystem," CMC added.
In June, it announced a fintech partnership with Revolut.
The deal allows for "back-to-back trading with Revolut, along with a complete back-end integration, providing their customers with access to the CMC Markets Connect trading universe", the firm explained at the time.
Shares in CMC were down 1.0% to 296.50 pence each in London on Thursday morning.
By Sophie Rose, Alliance News senior reporter
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