For the six months ending September the 30th the company reported a 4% decline in income.
CMC Markets (LON:CMCX) has just issued an interim management statement via the London Stock Exchange newswire. The UK brokerage that won the 2016 Finance Magnates London Summit award for best CFDs broker has reported a decline in net revenues and profits for the six months that ended on September the 30th.
The brokerage reported that client assets and client numbers have increased by 32 and 8 percent respectively, but the company’s top and bottom line have underperformed when compared to the same period last year.
With trading activity being largely focused on pockets of Volatility during the reporting period, the results are hardly a surprise. Brokerages across the industry have been reporting slowing numbers for the better part of 2016, with the main risk events on the market standing out in terms of trading volumes.
CMC Markets (LON:CMCX) reported that its net operating income contracted 4 percent year-on-year to £75.5 million ($93.7 million). The company’s bottom line has decreased substantially with profits before tax amounting to £18.8 million ($23.3 million), a number which is lower by 29 percent when compared to last year.
The decline in revenues and profits has been largely due to lower number of trades and trading volumes. For the 6 months ending September 30th the average value of trades at CMC Markets (LON:CMCX) totaled £911 billion. The number is lower by 18 percent when compared to last year’s £1.11 trillion. Looking at the total number of trades, that declined by 9 percent to £30.4 million.
Due to the aforementioned declines, the average revenues per active client dropped 13 percent to £1,488 ($1846).
Operating Costs Increase, Binary Options and Countdown Revenues £4.1 million
The operating costs of CMC Markets (LON:CMCX) increased by 9 percent to £53.6 million due to increased investment in talent and marketing. The company reported that its market share in the established market has increased, reflected by the rise of active clients by 3 percent, despite client trades being lower by 15 percent.
In France, a market that has been mired in controversy due to the upcoming regulatory challenges, the value of client trades increased by a whopping 37 percent.
The company’s binary options and countdown revenues totaled £4.1 million, a figure that increased 26 percent when compared to the second half of fiscal 2016. The binary options offering of CMC Markets (LON:CMCX) was rolled out tin April.
Elaborating on the institutional lofting of the firm, the interim management statement highlighted that the new API connectivity that the firm launched in May alongside the development of white and gray label offerings resulted in a 34 percent increase in the value of client trades.
Commenting on the prospects for the firm in the coming months, the CEO of CMC Markets (LON:CMCX), Peter Cruddas, said: "We continue to make significant strategic progress, delivering against our five pillars of growth. We are growing our active client base through retail and institutional channels, rolling out new products and platform enhancements and looking at opportunities to develop our international footprint."
CMC Markets (LON:CMCX) has just issued an interim management statement via the London Stock Exchange newswire. The UK brokerage that won the 2016 Finance Magnates London Summit award for best CFDs broker has reported a decline in net revenues and profits for the six months that ended on September the 30th.
The brokerage reported that client assets and client numbers have increased by 32 and 8 percent respectively, but the company’s top and bottom line have underperformed when compared to the same period last year.
With trading activity being largely focused on pockets of Volatility during the reporting period, the results are hardly a surprise. Brokerages across the industry have been reporting slowing numbers for the better part of 2016, with the main risk events on the market standing out in terms of trading volumes.
CMC Markets (LON:CMCX) reported that its net operating income contracted 4 percent year-on-year to £75.5 million ($93.7 million). The company’s bottom line has decreased substantially with profits before tax amounting to £18.8 million ($23.3 million), a number which is lower by 29 percent when compared to last year.
The decline in revenues and profits has been largely due to lower number of trades and trading volumes. For the 6 months ending September 30th the average value of trades at CMC Markets (LON:CMCX) totaled £911 billion. The number is lower by 18 percent when compared to last year’s £1.11 trillion. Looking at the total number of trades, that declined by 9 percent to £30.4 million.
Due to the aforementioned declines, the average revenues per active client dropped 13 percent to £1,488 ($1846).
Operating Costs Increase, Binary Options and Countdown Revenues £4.1 million
The operating costs of CMC Markets (LON:CMCX) increased by 9 percent to £53.6 million due to increased investment in talent and marketing. The company reported that its market share in the established market has increased, reflected by the rise of active clients by 3 percent, despite client trades being lower by 15 percent.
In France, a market that has been mired in controversy due to the upcoming regulatory challenges, the value of client trades increased by a whopping 37 percent.
The company’s binary options and countdown revenues totaled £4.1 million, a figure that increased 26 percent when compared to the second half of fiscal 2016. The binary options offering of CMC Markets (LON:CMCX) was rolled out tin April.
Elaborating on the institutional lofting of the firm, the interim management statement highlighted that the new API connectivity that the firm launched in May alongside the development of white and gray label offerings resulted in a 34 percent increase in the value of client trades.
Commenting on the prospects for the firm in the coming months, the CEO of CMC Markets (LON:CMCX), Peter Cruddas, said: "We continue to make significant strategic progress, delivering against our five pillars of growth. We are growing our active client base through retail and institutional channels, rolling out new products and platform enhancements and looking at opportunities to develop our international footprint."
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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