Online brokerage CMC Markets have revealed their final results for the financial year ended, ending 31st March 2021. Highlights of the results include a recorded net operating income of £409.8 million, an increase of 63%. CMC also boasts a record performance in their latest post, as it follows its strategic direction to invest in technological advancements that support sustainable growth.
Reporting on CFDs, revenue was up 22% per active client to £4,560, claimed to have been driven by CMC’s enhanced CFC retention of client income, while active CFD clients increased by around 34% due to CMC’s strategic focus on both experience global clients as well as the heightened levels of interest from new clients in the financial markets. Predominantly driven by a 28% increase in client numbers as well as the ever-increasing appeal surrounding international shares offerings, CMC’s stockbroking net trading revenue went up by a massive 72% to £54.8 million
CMC said that it continued to offer its clients resilient platforms, which meant that existing clients could trade. New clients could also onboard even throughout periods in which trading volumes were extremely high and markets were especially volatile. It also continued to invest in proprietary tech platforms to diversify its offerings, having launched Spot FX offerings and Dynamic Trading in June and May of this year. It also launched a Stockbroking mobile app back in March 2021.
Peter Cruddas, Chief Executive Officer at CMC, commented:
Peter Cruddas Source: LinkedIn
I am delighted with our record performance, which vindicates our strategy of continuing focus on high value clients and technology investment. I am tremendously proud of the resilience, flexibility and capability displayed by all of my colleagues at CMC and would like to personally thank them all for the commitment and passion with which they continue to deliver high levels of service to our clients.
Finally, profits recorded before tax went up by 127% to £224.0 million compared to 2020’s £98.7 million. CMC affirmed its belief that current active client levels should remain sustainable since the characteristics of clients who were onboarded throughout the year were somewhat comparable to its existing client base. In addition, it stated that both trading activity and longevity seem to be at similar levels to prior cohorts.
Earlier this month, CMC Markets Connect announced an upgrade of its tech stack to provide faster price construction and increase the range of asset classes available for trading. CMC Connect now gives its clients to an additional 60+ Spot FX pairs and precious metals.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
