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 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.
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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 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.”
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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.