CMC Markets Plc Trading Statement (3568U)
March 27 2023 - 10:51AM
UK Regulatory
TIDMCMCX
RNS Number : 3568U
CMC Markets Plc
27 March 2023
27 March 2023
CMC Markets Plc
FY 2023 Trading Update
CMC Markets Plc ("CMC" or the "Group"), a leading global
provider of online retail ("D2C") and institutional ("B2B")
platform technology, today issues a trading update for FY 2023.
Trading Update
FY 2023 net operating income is expected to be between
GBP280-290 million. February and March posed a more challenging
environment with lower equity volumes and a higher proportion of
lower margin institutional trading activity.
Management expectations for FY 2023 operating costs excluding
variable remuneration are expected to be in the range of GBP215-220
million.
Development upgrades across both its investing and trading
platforms continue and the expansion in the institutional business
remains on track. C MC's diversification strategy in its investment
business advances with CMC UK Invest expanding its offering and
with the recent award of its regulatory licence, CMC Singapore
Invest is due to go live over coming months.
These strategic objectives underpin the expected 30% growth in
net operating income based on the 2022 results over the next three
years.
CMC will announce its FY 2023 results on Tuesday 13(th) June
2023.
Enquiries
CMC Markets Plc
James Cartwright, Chief Operating Officer
investor.relations@cmcmarkets.com
Euan Marshall, Chief Financial Officer
Camarco +44 (0) 20 3757 4994
Geoffrey Pelham-Lane
Jennifer Renwick
MAR disclosure statement
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is considered to be in the public domain.
Notes to Editors
CMC Markets Plc ("CMC"), whose shares are listed on the London
Stock Exchange under the ticker CMCX (LEI: 213800VB75KAZBFH5U07),
was established in 1989 and is now one of the world's leading
online financial trading businesses. The Group serves retail and
institutional clients through regulated offices and branches in
twelve countries, with a significant presence in the UK, Australia,
Germany, and Singapore. CMC offers an award-winning, online, and
mobile trading platform, enabling clients to trade up to 10,000
financial instruments across shares, indices, foreign currencies,
commodities, and treasuries through contracts for difference
("CFDs"), financial spread bets (in the UK and Ireland only) and,
in Australia, access stockbroking services. More information is
available at http://www.cmcmarkets.com/group/
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END
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