CMC Markets has partnered up with Chicago headquartered investment research and management firm Morningstar, to deliver customers interested in trading equities a tool which can lead to more informed trading decisions on the equity markets.
The tool is named Morningstar Quantitative Equity Research Report, and is a quantitative report which scans through cash fundamentals for the stock, runs the company’s proprietary algorithm over the data, and is updated every 24 hours.
CMC Markets’ Co-Head of Product Development, Craig Inglis, shared with Forex Magnates reporters, “The new tool aims to deliver a fair value estimate derived on fundamentals on what the company is worth.”
“Equities historically have not been a huge revenue driver for CMC, because our clients tend to utilize indices, forex and commodities. Shares is a growth area for CMC Markets and we wanted to make sure that we provide our clients with more information on individual stocks,” he explained.
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After the update of the company’s mobile apps, iPhone and Android mobile trading solutions have moved away from a menu driven system into a more seamless user experience. The way in which the company decides what needs improvement is by collecting feedback from customers, while holding client events, where it organizes sessions showing new features to its clients before they go live.
Another notable addition to the platform is the ability for clients to go long and short at the same time. The firm remains strongly committed to developing its mobile platform, as recent data has continued to show the strength of clients’ commitment to use mobile devices for trading.
CMC Markets shared some details about the market share of mobile applications in its business – 20% of users are exclusively using mobile, while 75% of the firm’s global client base uses mobile in conjunction with the web trading platform and about 40% of clients use the mobile app just for monitoring. The global turnover via mobile at CMC Markets has ticked above 40%.
“We looked at the way our clients are interacting with the platform and how they are utilizing its features and addressed the arising issues. We flattened the interface and brought in a cleaner experience,” Mr. Inglis commented to Forex Magnates.
The company has recently reported yearly operating income at CMC Markets rising by 14% in 2014, while costs were down 16%. Other companies have announced a new mobile solution, including NetDania, which provided Forex Magnates’ reporters an exclusive sneak peek into its new multi-charting functionality on mobile.