CMC Markets Confirms no Losses Incurred Over Brexit Volatility
- CMC Markets states that it didn't suffer losses over Brexit-related volatility.
Leading United Kingdom-based online FX and multi-asset brokerage, CMC Markets, listed on the London Stock Exchange (LSE) under ticker symbol CMCX, has just released a statement regarding the EU referendum, according to an official filing, Finance Magnates reports.
As the smoke clears from the effects of Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term in the market this Friday, with the trading session coming to a close, a number of major brokerages have already released statements regarding how their operations fared amid the market turmoil in currencies and stock indices.
The new world of online trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
No loss and strong financials
The company noted in an official regulatory filing: ''CMC Markets Plc can confirm that despite the extreme volatility in the financial markets as a result of the EU referendum and the subsequent result of the UK's vote to leave the EU, the Company incurred no losses.
CMC maintains robust Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term processes to ensure it offers its clients the best possible service. The Company continues to maintain a strong regulatory capital position post the EU referendum vote.''
Trading session still underway
Markets in the U.S., however, are showing mixed performance currently with the S&P 500 in positive territory, indicating that a flight to quality may have been taken into that index, and as the US dollar strengthened considerably today against currencies such as the pound and euro, among others.
With the trading session still underway in New York, the session could end lower, and as the Nasdaq and Dow Jones remain down nearly 3% after opening lower by nearly the same degree earlier.
Many currencies and stock indices had their largest one-day move ever today, including a number of indexes across Europe as Brexit-related volatility spread globally.
As the Brexit theme will likely persist for some time, lingering uncertainty about the future could keep volatility high and investors on the sidelines, and holding positions through this weekend could be just as volatile as the smoke attempts to clear by next week.
The news from CMC Markets in London follows as GAIN Capital and FXCM released statements this Friday morning in the United States, following the Brexit-related volatility in Europe and Asia.
Leading United Kingdom-based online FX and multi-asset brokerage, CMC Markets, listed on the London Stock Exchange (LSE) under ticker symbol CMCX, has just released a statement regarding the EU referendum, according to an official filing, Finance Magnates reports.
As the smoke clears from the effects of Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term in the market this Friday, with the trading session coming to a close, a number of major brokerages have already released statements regarding how their operations fared amid the market turmoil in currencies and stock indices.
The new world of online trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
No loss and strong financials
The company noted in an official regulatory filing: ''CMC Markets Plc can confirm that despite the extreme volatility in the financial markets as a result of the EU referendum and the subsequent result of the UK's vote to leave the EU, the Company incurred no losses.
CMC maintains robust Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term processes to ensure it offers its clients the best possible service. The Company continues to maintain a strong regulatory capital position post the EU referendum vote.''
Trading session still underway
Markets in the U.S., however, are showing mixed performance currently with the S&P 500 in positive territory, indicating that a flight to quality may have been taken into that index, and as the US dollar strengthened considerably today against currencies such as the pound and euro, among others.
With the trading session still underway in New York, the session could end lower, and as the Nasdaq and Dow Jones remain down nearly 3% after opening lower by nearly the same degree earlier.
Many currencies and stock indices had their largest one-day move ever today, including a number of indexes across Europe as Brexit-related volatility spread globally.
As the Brexit theme will likely persist for some time, lingering uncertainty about the future could keep volatility high and investors on the sidelines, and holding positions through this weekend could be just as volatile as the smoke attempts to clear by next week.
The news from CMC Markets in London follows as GAIN Capital and FXCM released statements this Friday morning in the United States, following the Brexit-related volatility in Europe and Asia.