CMC Markets (LON:CMCX), a UK forex and spreadbetting broker, that went public earlier this year, has reported a 13% client growth year-on-year and a modest increase in revenue per client. It does not, however, become clear what period the broker is referring to.
According to the broker’s Trading Update published on the website of the London Stock Exchange (LSE), its shares continue to trade in line with expectations with the recent market volatility. On Thursday it stock cost GBP 2.48 per share on market open, a little higher than the IPO of GBP 2.4 in early February this year.
In its statement CMC, which in March became the third largest forex broker in terms of market capitalization, noted it is making progress in the areas of its strategic focus, namely growth in core markets, international expansion, product innovation, digital marketing and institutional offering.
The full results of the broker for its financial year, ending on March 31, 2016, will be published on June 8.
Earlier this month the company announced it has appointed as its joint corporate brokers the US multinational investment banking firm Goldman Sachs and the investment bank RBC Capital Markets, part of the Royal Bank of Canada.
CMC Markets was set up back in 1989 and now it runs offices in 14 countries across the globe, focusing on the markets in the UK, Australia, Germany, and Singapore. The broker offers trading in more than 10,000 financial instruments, including forex, shares, indices, commodities and treasuries via its proprietary trading platform Next Generation.