CMC Markets reported a decline in trading activity
CMC Markets reported a decline in trading activity
Broker CMC Markets has released its trading summary for the period from April 1 to June 30, 2023 (Q1 of FY2024).
In its summary, the broker noted a 15-20% year-on-year decrease in client trading and investment activity due to calm market economic conditions, which is fully in line with its expectations.
However, CMC Markets said that lower client activity was offset by strong interest income, resulting in overall net operating income expected to be consistent with the same period last year. The broker also pointed out that key performance indicators, including client money, assets under management, and active trading and investment clients, remain "robust".
Key target projections continue to point to strong performance in FY2024, with the broker saying that investment plans and operating expenses, excluding variable remuneration, will be in line with previous expectations.
CMC Markets continues to see growth in its business across all divisions and geographies.
The broker said it will open access to cash equities, as well as OTC options and listed futures, to institutional clients within the next six months.
Related news: CMC Markets releases results for FY2023.
