The publicly listed brokerage CMC Markets (LON: CMX) has announced a strategic partnership with Revolut. The collaboration will integrate multiple APIs, enabling Revolut customers to access CMC's trading universe directly through the neo-banking app.

CMC Connect Forges Major Fintech Partnership with Revolut

Under the partnership, CMC Markets Connect will provide the back-end infrastructure, including trading, pricing, account systems, execution, and clearing. Initially, Revolut customers will gain access to FX, index, commodities, treasuries, and equity CFDs, potentially expanding into other asset classes as the relationship evolves.

"The partnership facilitates back-to-back trading with Revolut, along with a complete back-end integration," said Lord Cruddas, CEO of CMC Markets. "We look forward to supporting Revolut's customers with access to our extensive trading universe."

The partnership is expected to launch imminently, allowing Revolut customers to benefit from CMC's trading capabilities within the familiar interface of the Revolut app.

CMC Markets Connect, a division of CMC Markets Plc, serves a global institutional client base, providing online trading and investment services to banks, brokerages and dealing desks Dealing Desks A dealing desk is the broker’s operational place tasked with monitoring the exposure of the company to market risks. It is run by the risk management team and is typically associated with forex markets, which comprise the largest market share.That said, modern brokers which are offering CFDs on indices, commodities and stocks are also run by dealing desks. Given the round-the-clock nature of the FX market, dealing desks are constructs that are scattered globally.This helps ensure the smoothest e A dealing desk is the broker’s operational place tasked with monitoring the exposure of the company to market risks. It is run by the risk management team and is typically associated with forex markets, which comprise the largest market share.That said, modern brokers which are offering CFDs on indices, commodities and stocks are also run by dealing desks. Given the round-the-clock nature of the FX market, dealing desks are constructs that are scattered globally.This helps ensure the smoothest e Read this Term.

"As a global neobank, we work with a wide range of fintech providers to ensure Revolut customers have access to best-in-class solutions for their investing needs," a spokesperson from Revolut said, acknowledging CMC's market experience and ability to integrate trading systems with other financial institutions.

For Revolut, this is the first collaboration with a popular UK trading company after the neobank announced last week that it is moving its main headquarters to the heart of London's financial district, capitalizing on the departures of big banks from Canary Wharf. Meanwhile, the company has also partnered with the British-Romanian Chamber of Commerce (BRCC) to support investments between the UK and Romania.

Cruddas further emphasized the significance of this partnership in reinforcing CMC's position as a market leader and innovator in the B2B fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term space. "It illustrates how CMC can fully support institutions looking to offer financial products with a full technology and trading infrastructure.”

CMC Markets Optimistic About 2024

According to the latest financial data released by CMC in March, the company anticipates that its net operating income for the fiscal year 2024 will exceed the upper end of its previously guided range of between £290 million and £310 million. This optimistic outlook follows a robust performance in the third quarter of the current fiscal year. In January, CMC raised its income forecast by £40 million, and now it expects to surpass this revised projection.

In April, CMC Invest, the equity trading arm of CMC, expanded its services in the United Kingdom by launching a Self-Invested Personal Pension (SIPP) scheme. Announced last Friday, this new offering is structured as a flat fee product and is developed in partnership with Quai Investment Services, exclusively available through its Premium plan.

Additionally, CMC Markets recently elevated Michael Bogoevski to the position of Head of Institutional APAC and Canada, based in Sydney, Australia. Bogoevski, who has a longstanding association with the company, previously served as Head of Distribution for APAC and Canada